Gig Wage has several options for paying contractors.
Need to know which options are best for you? Keep reading...
Cut off times:
Next-day ACH Payments - before 5:00 PM CST on business days (Mon-Fri)
Same-day ACH Payments - before 11:00 AM CST on business days (Mon-Fri)
Transfers in/out of your Gig Wage account and AR transactions:
Before 11:00 AM CST on business days (Mon-Fri) will settle the same business day
After 11:00 AM CST on business days (Mon-Fri) will settle the NEXT business day
It is advisable to allow at least a 15 minute cushion for processing through the system to ensure the transactions go out in the intended batch (same day ACH/next day ACH.)
Payments to Debit Card
- If you DO NOT have Gig Wage Banking, contractors will see Faster Pay.
- If you DO have Gig Wage Banking turned on, contractors will see Instant Pay.
So, depending on your configuration, when you invite new or pay existing contractors, they will see a debit card payment option called Instant Pay or Faster Pay.
If you are pre-funding your Gig Wage account, then payments to contractor debit cards can be created at any time of the day/week, will process immediately (Mon-Sun) and allow for instant payments to your contractors.
Contact us about using a pre-funded Gig Wage account to speed up your contractor payments.