Auto-deposits are initiated based on the type of auto-deposit you have chosen. If you use the free auto-deposit options, the auto-deposit will be initiated on a preset schedule that cannot be personalized.
- Weekly: initiated on Monday each week.
- Monthly: initiated on the first calendar day of each month.
If you use the Auto-Deposit Scheduler, a feature that comes with our Fast Money Package, you will be able to choose from more options and also personalize the options. (You can read more about the Auto Deposit Scheduler here: https://support.wisebanyan.com/hc/en-us/articles/115003359313-What-is-the-Auto-Deposit-Scheduler-)
Options With the Fast Money Package Auto-Deposit Scheduler:
- Once a Week: initiated on the weekday of your choice.
- Once a Month: initiated on any day of the month of your choice.
- Twice-Monthly: Initiated twice a month on two days of the month of your choice.
- Bi-Weekly: Initiated every other week on the weekday of your choice.
- Quarterly: initiated on the first calendar day of each calendar quarter (i.e. January 1, April 1, July 1, and October 1).
After the auto-deposit is initiated, it typically takes 2-3 business days to complete. If you also use the Quick Deposit feature in the Fast Money, the auto-deposit will typically be completed the same or next business day.