Payroll Wiring Instructions

How do I set up my payroll for a wire transfer?

Purpose: This guide will walk you through how to set up a wire transfer for payroll. 

Be aware!
Wire fraud and phishing schemes are on the rise. To combat such schemes, BambooHR’s wire instructions are only accessible by logging into your BambooHR Payroll account. We will never email, call, or use other channels to provide wire instructions. Should you have questions about this policy, please contact us.

Table of Contents

Wire Transfers Overview

Please be aware that you will need to reach out to the Payroll Support team to complete the wiring process.

If you need to fund your payroll quickly or when running your payroll for the first time in BambooHR, we require a wire transfer. BambooHR can accept 2-day, 1-day, and same-day wires. Please contact the Payroll Support team to set up a wire payroll, then work with your bank to complete the wire transfer. When processing a same-day wire, the wire transfer must be received by our bank by 10:00 AM PST on the day of payroll approval to allow time for processing. 1-day wire requests must be processed by 2:00 PM PST on the day before the pay date.

Please note that any delay in the arrival of funds may result in a delay in the payroll's dispersal to employees and additional wire fees. To expedite your wire and ensure our Treasury team receives it on time, please reach out to your bank and ask to release the wire immediately.

Setting up a wire transfer during payroll 

If your payroll requires a wire transfer, the wire instructions can be found in three places during the payroll process: on the Review Page, during payroll approval, and on the Payroll tab after payroll is approved. 

On the Review Page, a notification will appear in the Payroll Summary. This section will include the total amount required to fund the payroll and a link to the wiring instructions. 

Click wire instructions to display the instructions modal. This modal will include all of the necessary information your bank needs to complete the transfer. You can quickly copy the information to your clipboard by hovering over the information line and clicking the copy icon.

The same wiring instructions will appear again when you go to approve payroll. 

After approving payroll and closing the modal, a new payroll wire box will appear above the approved payroll information box. The total wire amount and the wire due date will be displayed. Clicking the View Wire Instructions button will show the same wire information outlined above.

Sending the Correct Type of Money Transfer

Your bank may offer money transfers other than wire transfers, but these will not work for payroll funding. You must ensure the transfer is a wire and not another transfer method. Wire transfers are specifically marked "Wire" and have a FedWire number listed. 

Incorrect types of money transfers

Please do not send any of the following types of money or bank transfers:

  • ACH Transfer 
  • Debit ACH
  • CCD Transaction 
  • "Your Company Name" Transfer

Wire Transfer Fees

Banks and credit unions charge wire fees on both the initiating and receiving end of wire transfers. You will be responsible for the initiating fee from your bank for every wire transfer you request. You will also be responsible for the wire transfer fee of $35.00 from our bank anytime you request a wire transfer. We will waive the $35 fee for wires completed during Payroll Implementation. 

Why does my payroll require a wire?

If you receive a notification that your payroll needs to be wired or reverse-wired, there are two reasons: 

  1. You have hit the maximum ACH limit within a single payroll (applicable to 2-day ACH funding schedules only). 
  2. A single employee is expected to receive a direct deposit amount exceeding a certain threshold on the pay date. 

Use the instructions above in this guide or found within the run payroll experience to fund your payroll. 

Reverse Wires

As a payroll client, you also have the option to set up the reverse wire funding method with our ACH partner, National Payment Corporation (NPC). This method allows NPC to withdraw funds directly from your account via a wire transfer based on your pre-approval. A reverse wire, sometimes called a drawdown wire, is a wire where a business pulls a payment from another company via instant wire transfer.

You will have two options when opting into reverse wires:

  1. Reverse wire every payroll
  2. Reverse wire only the Payrolls that exceed payroll limits; all others will be ACH

Setting up a reverse wire

You can set up a reverse wire during Payroll Onboarding by working with your payroll project manager or after onboarding by contacting our Payroll Support Team. 

You will need to complete the following steps:

  1. Contact your payroll project manager or Payroll Support, and let them know you’d like to be set up for reverse wires. In your communications, please let them know which of the two options above you’d like to opt in for.
  2. Once your payroll project manager or support hero has made it available, you can download the NPC Reverse Wire Authorization Agreement Form from your Files tab in BambooHR.

Your company will need to complete the following steps:

  1. Complete Section 1 with your company’s information. All fields are required.
  2. Complete the following fields in Section 6:
    • Company Manager Name (Please print)
    • Company Manager Title
    • Company Manager Signature
    • Date
  3. Work with your bank to set up a Reverse Wire Authorization.

Your bank will need to complete the following steps:

  1. Complete Section 2 with your company’s bank information. All fields are required.
  2. Complete the following fields in Section 6:
    • Bank Manager Name (Please print)
    • Bank Manager Title
    • Bank Manager Signature
    • Date
  3. Set up a Reverse Wire Authorization.

Once you complete the form, upload the file to the Files tab in BambooHR. Then, email your payroll project manager or support hero indicating that all steps have been completed. 

After you submit the form, BambooHR’s bank will perform a test to make sure everything is set up properly. The test takes 2-3 business days. One of our support heroes will inform you if the test is successful or if you will need to work with your bank to make any necessary changes to achieve a successful test.

The most common reasons that a test will fail are the following:

  1. Incorrect Account Information
  2. Bank Restrictions
  3. Bank Account is empty or closed

Reverse wire fees

Like a regular wire, you will be responsible for the initiating fee from your bank and the transfer fee of $15.00 from our bank for every reverse wire transfer you request. 

If you do not wish to pay additional fees for payrolls that exceed the ACH limit, you can select to use our 4-day ACH funding method.