Methods of Payroll Funding (RFW, ACH and One-Time Wire)

This article describes Namely's three basic funding options with NPC, our NACHA provider.

The standard method for payroll funding at Namely is the Reverse Fed Wire (RFW).

If you are an existing Namely client and would now like to start the process of changing your payroll funding method, please submit a case to the Namely Service Team with this RFW form attached, signed by you and a bank manager. Please include “Changing Banking Method” in the subject line of your case.

Note: if required, the address for NPC is:
NatPay
3415 W. Cypress St.
Tampa, FL 33607-5007

REVERSE FED WIRE (RFW)

This is the standard method of payroll funding for payroll processing at Namely, which requires two days for funds transfer.

• With a Two-Day Reverse Fed Wire (RFW), NPC (Namely’s NACHA provider) initiates a wire and "pulls" the funds from your bank account on file.

• You must approve your payroll two business days prior to your respective check date.*

• The NPC bank account used for RFW is through Premier Bank.

• To set up the RFW, you need to fill out a form. It can take up to a week to set up an RFW and requires a signature from a manager at your respective bank.

• With reverse wire, there is no limit in place that will make you send a One Time Wire EXCEPT if your bank has a limit to what Namely/NPC can pull from your account.

 

THREE-DAY ACH

If your company is considering a change from two day to three day processing schedule, please see below for more information.

• NPC debits your bank account via ACH.

• You must approve three business days prior to your respective check dates.*

• Namely does this for payroll totals of less than $500K per pay period.

• This takes two to three days to clear.

• Any liability of $2M will require a one-time wire. Any employee receiving a direct deposit amount exceeding $100,000, would also facilitate the need for a one time wire.

 

ONE-TIME WIRE

Namely can facilitate a one-time wire transfer for you to process payroll. It is your responsibility to contact your bank and initiate the wire in these scenarios. 

• If you are currently an ACH processor please be advised a wire transfer is required to fund payroll when the total sum of all payrolls with the same due date exceeds $2 million or one or more employees are receiving a total direct deposit exceeding $100k.

• If you do not exceed the thresholds listed above you may want to fund payroll via wire as it allows you to process after your normal cycle due date. To process with a wire funding method two business days prior to your pay date there are no fees, however, if you wish to process payroll the day before your desired pay date there is a $350 fee and payroll must be submitted no later than 12:00 pm EST. In both scenarios above your wire must be received by 2:00 pm EST the business day prior to your pay date to ensure we can distribute the funds to your employees in a timely manner.

• If you wish to submit and fund your payroll via wire transfer, please note that Namely will have to update the pay date after you submit any applicable pay cycles, Once you have submitted payroll please submit a case to the Namely Service Team with the word "wire" listed somewhere in the subject of your case to better allow us to route your request. In the case details, please include the applicable pay cycle IDs that need to have the pay date updated and include your desired pay date.

• Please note that any one-time wire transfers will require you to contact your bank directly to setup the wire transfer of funds. Wire instructions can be furnished at request when contacting the Namely Service Team following the instructions listed in the paragraph above. 

Refer to this document for more information: FIRST PREMIER WIRE INSTRUCTIONS

Note: If you use Namely's check printing services, you must have three-day ACH funding in order to guarantee check delivery on or before your pay date. Using a Reverse or two-day ACH wire does not provide enough lead time to guarantee check delivery by the pay date. 

SAME DAY ACH

Same Day ACH is a last resort method of funding that allows you to fund your payroll on the same day as your intended pay date. Same Day ACH is not a process that Namely will facilitate on a normal or ongoing basis, it should be reserved for situations where you missed your original payroll deadline, or if you have extenuating circumstances. 



There is a flat fee of $500 plus $5 per employee that is paid if you need to process a Same Day ACH. 

• Please submit a case via the Help Community as soon as you know that you need to fund payroll via Same Day ACH - but no later than when you are approving payroll. If a case isn't open as soon as possible, we may not be able to process your request.

• Your pay cycle cannot be approved any later than 9:00 a.m. ET on your intended pay date.

• NPC must receive your funds by 12:00 pm ET on the pay date, with no exceptions or extensions.

• Wires must be sent using the banking information detailed in this document containing banking information for the Namely Payroll Trust.

• The Federal Reserve forbids deposits that exceed $1,000,000 per employee from being made via Same Day ACH (even if multiple bank accounts are used.)

Employees will receive their funds at 5:00 pm EST (though some banks may take longer to process the payments and actually deposit the funds.)

 

LIMITS

Daily ACH transfer limits are:

• $100,000 direct deposited to a single employee, and/or,

• $2,000,000 total, calculated from all payrolls a client runs in a single day. This total can be from one or across multiple pay groups.

If your funding method is ACH and your payroll exceeds either limit, an alert will surface after you approve the pay cycle notifying you to complete a one-time wire transfer. The wire transfer must be completed by the displayed time and date or the payroll will not be funded.

If you happen to navigate away, you can return to this page and download the wire form by clicking Needs wire next to the pay cycle in the Payroll Center.

After the wire is submitted, you can save the form for their own records. Namely will reach out if any additional action is needed.