ST Alpha - "payroll companies are typically middle-men who just cut the checks for the employer (one would hope the prod cos didn't have their own $$ in SVB) -- nm" (Reading a Post)

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In response to "Wrapbook is affected by SVB. I've never heard of it before, but maybe it's a big deal for hollywood big shots -- (link)" by Beryllium

payroll companies are typically middle-men who just cut the checks for the employer (one would hope the prod cos didn't have their own $$ in SVB) -- nm

Posted by hollywood big shot (aka pickmix) Mar 10 '23, 17:29

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Correct. I used to work for ADP. Payroll processors debit the funds from a client bank (actual pay along with taxes) 2 or 3 days before payday. If no - zunkskunk Mar 10, 17:53
** -- nm* - zunkskunk Mar 10, 17:49 1
- though probably doesn't instill confidence in Wrapbook's clients that they're apparently locked out of their own SVB account for future business -- nm - hollywood big shot Mar 10, 17:54

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