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How to Run Payroll Today Using Bank Wire Prefunding

Planning ahead for payroll is always best, but we understand that sometimes urgent situations arise. Bank wire prefunding is our way of providing you with a flexible solution to meet your immediate payroll needs.

If you need to run payroll immediately with direct deposit and don’t have enough time for the standard ACH process to clear, our prefunding feature using a bank wire transfer is the perfect solution. This article explains how to use this option to ensure your employees are paid on time.

What is Bank Wire Prefunding?

Bank wire prefunding is a feature that allows you to send money directly to Patriot via a bank wire transfer.  We will apply the bank wire amount as a “prefunded payroll,” meaning you have already funded the payroll in advance before running it. It combines the speed of wire transfers with the convenience of prefunding, giving you greater control over your payroll timing and cash flow management. This method is faster than ACH and enables you to process your payroll with direct deposit immediately upon the funds being applied. 

When to Use Bank Wire Prefunding

Use this option when:

  1. You’ve sent a wire but did not complete the wire payroll before the 3 PM deadline
  2. You’ve completed a payroll and sent a wire but it was not run as a wire payroll
  3. You’re a normal direct deposit customer facing a time crunch and can’t wait for ACH clearing times
  4. You’re a “prefund” customer who has exceeded your funded payroll amount

    Read more about our direct deposit timing in our help article, Direct Deposit Funding and Timing Options, with and Using Prefunded Direct Deposit.

How to Use Bank Wire Prefunding

  1. Log into your payroll account
  2. Navigate to the Settings > Payment Settings > Direct Deposit Settings
  3. Scroll down to the Manually add funds to your prefund balance section
  4. Click “Enable Prefund”
  5. Follow the instructions to add wired funds to fund your payroll. You can download wire transfer instructions, which include our bank details and a unique reference number
  6. Verify that the amount you’re sending is sufficient to cover your entire payroll.
  7. Initiate the wire transfer from your bank using the provided information. And ensure the wire transfer is received by us no later than 3:00 p.m. Eastern Time (ET).
  8. Once we receive the funds, you can process your payroll immediately

Important Notes

  • Bank wire transfers are typically applied the same day but it may be the next day, depending on when you initiate the transfer. Wire transfers received after 3:00 p.m. ET may result in delayed payroll processing
  • Ensure you include the provided reference number with your wire transfer to avoid delays
  • Insufficient funds will prevent payroll from being processed until the full amount for payroll is received
  • There is a $15 fee from Patriot associated with sending a wire transfer; check with your bank for additional fees
  • This method is suitable for both one-time urgent needs and regular use if you prefer faster processing
  • If you have funds remaining in your available balance you can use it in a subsequent payroll, or contact our support to request the amount be returned.

Need Help?

If you have any questions about using the bank wire prefunding feature or need assistance with the process, please contact our support team. We’re here to ensure your payroll runs smoothly, even on short notice.

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