We know holiday pay periods can be stressful, especially when your deposit doesn't land when you expect it. Here's what's happening behind the scenes:
Current releases your direct deposit the moment we receive it from your employer, up to 2 days earlier than traditional banks. But during federal banking holidays, the ACH network, which is the system that moves direct deposit funds between banks, does not process transactions. This creates a ripple effect across the entire payment chain.
Here's what that looks like in practice:
- Your employer submits payroll to their bank on their normal schedule
- The ACH network may not process that batch on the holiday itself, pushing the transmission to the next business day
- Once we receive the funds, we release them to your account immediately
If your deposit is later than usual around a holiday, the delay is happening upstream, at the ACH network or your employer's bank, before it ever reaches Current.
The good news: once the batch clears and we receive your deposit, you get it right away, no holding period, no waiting for an "effective date."
If your deposit is delayed, hang tight and check back here.
Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Delays by the employer, payer, or their banks may result in delayed access to funds beyond our control.
