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How To Know if You’ll Get Paid Early for Thanksgiving

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Nov. 23 2021, Published 7:34 a.m. ET

Many businesses and banks close on federal holidays such as Thanksgiving, and that can affect payday schedules. If it’s your first time on payroll during the holidays, you may be wondering if you’ll get paid early for Thanksgiving.

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In 2021, Thanksgiving Day will fall on Nov. 25. As that's a federal holiday, the Federal Reserve will be closed, meaning payment processing through the Fed and the automated clearing house (ACH) system will be unavailable, though some banks will be open. Transactions put on hold because of Thanksgiving should get processed the next business day.

Thanksgiving amid COVID-19 and pay delay concerns

Thanksgiving is a popular holiday for many Americans. Some have planned parties and travel to be together with family to celebrate the day. However, people are going into the holiday amid surging COVID-19 cases in parts of the country. As some employees worry about COVID-19 concerns spoiling their Thanksgiving celebrations, others worry about missing pay because of the payday falling on a holiday.

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Will you get paid early for Thanksgiving?

If you normally get paid on Friday, you may be wondering when you'll be paid this week. Many people want to have money to spend on Black Friday and are hoping they get paid early. When you get paid depends on your company’s holiday payday policies. Some companies traditionally release payments early when the normal payday falls on a bank holiday, whereas others usually release them afterward.

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When a company expects to pay later than normal, the law requires that it alerts the employees about the payment delay in advance. However, no prior notice is required when payment will be ahead of schedule. Therefore, if your company hasn’t sent out Thanksgiving pay delay alerts, you may get paid early. In addition to ensuring people have money for Black Friday shopping, releasing payments before a holiday is important when it comes to government benefits that can’t be paid later.

Thanksgiving direct deposit processing

Banks holidays such as Thanksgiving affect direct deposit processing. Therefore, companies that intend to pay before the holiday will usually adjust their payroll processing settings. However, as such maneuvers may attract a fee, some companies stick with their normal payment schedule.

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