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.
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.
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:
You have hit the maximum ACH limit within a single payroll (applicable to 2-day ACH funding schedules only).
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.