When will my Direct Deposit reimbursement show up in my bank account?
To answer this question, it helps to know the basics of how Direct Deposit works:
- ProBenefits processes the payments and sends the file to our bank.
- Our bank verifies the file, then forwards it to the Federal Reserve Bank in Richmond, Virginia.
- The Federal Reserve processes the file and instructs your personal bank to credit your account for the payment amount. At the same time the money is credited to your account, it is debited from your Employer’s bank account.
Based on this process, the funds should post in your account one to two days after the payment is created. Normally, the amount will show up as a “pending deposit” on the morning following the payment date unless there is an unusually high workload at the Federal Reserve Bank or other unusual factors.
For Daily Direct Deposit, claims are processed within one to two business days of receipt, and payment for a valid claim is generated and sent to the bank the business day after the claim is processed.
For Weekly Direct Deposit, our commitment to you is “In by Friday, Out on Wednesday.” This means that any valid claim we receive by Friday is processed (sent to our bank) the following Wednesday.
For Monthly Direct Deposit, we process payments the Wednesday immediately preceding the 15th which meets our promise of “In by the 5th, Out by the 15th.”
Not sure what payment schedule your plan is on? No problem! You can see the expected payment date on the web portal for any claims you’ve submitted.