Treasury Direct Payroll Savings Plan - Deposit Time

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Topic Author
MSchleicher
Posts: 89
Joined: Sun Apr 20, 2014 11:16 am

Treasury Direct Payroll Savings Plan - Deposit Time

Post by MSchleicher » Sun Apr 20, 2014 11:21 am

How long does it take for funds to be deposited into your account with Treasury Direct? The money was taken out of my paycheck, and I want to ensure that my account information was correctly recording by my employer's HR department. Before contacting them, I want to wait a reasonable amount of time.

sscritic
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Joined: Thu Sep 06, 2007 8:36 am

Re: Treasury Direct Payroll Savings Plan - Deposit Time

Post by sscritic » Sun Apr 20, 2014 11:57 am

Before asking your employer to start your payroll allotment/direct deposit, you must first set up a Payroll Savings Plan in your TreasuryDirect account.
...
You can access history records about savings bonds purchased through the Payroll Savings Plan, view records about your Payroll C of I transactions, and view changes made to your Payroll Savings Plan by clicking the History tab.
Login to your account at TreasuryDirect and look.

Topic Author
MSchleicher
Posts: 89
Joined: Sun Apr 20, 2014 11:16 am

Re: Treasury Direct Payroll Savings Plan - Deposit Time

Post by MSchleicher » Sun Apr 20, 2014 12:06 pm

I have been logging into my account and checking. I am posting this thread because I am curious as to how long it typically takes for a deposit to hit a user's account. My direct deposit for my work payroll is visible the day the deposit begins to be processed through the account. I am wondering if the deposit is typically visible the next business day, within three business days, within five business days, or longer.

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ElJay
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Re: Treasury Direct Payroll Savings Plan - Deposit Time

Post by ElJay » Sun Apr 20, 2014 8:17 pm

Disclaimer: I haven't done payroll savings through TD in the past year and a half. When I did do it, my C of I history page (History > C of I History) would show a "Payroll CofI purchase" transaction when the payroll was processed, which was typically a couple of days before pay day. A bond would be automatically purchased by redeeming C of I on pay day, given the balance in payroll C of I had reached the purchase threshold I set up in the payroll savings plan. The bottom line is that savings bonds were purchased on the same day I received the direct deposit for the rest of my paycheck in my checking account. I don't remember how long it took for these transactions to be displayed on TreasuryDirect's website, but if it was more than one day lag I would be very surprised.

Topic Author
MSchleicher
Posts: 89
Joined: Sun Apr 20, 2014 11:16 am

Re: Treasury Direct Payroll Savings Plan - Deposit Time

Post by MSchleicher » Mon Apr 21, 2014 4:38 am

ElJay wrote:Disclaimer: I haven't done payroll savings through TD in the past year and a half. When I did do it, my C of I history page (History > C of I History) would show a "Payroll CofI purchase" transaction when the payroll was processed, which was typically a couple of days before pay day. A bond would be automatically purchased by redeeming C of I on pay day, given the balance in payroll C of I had reached the purchase threshold I set up in the payroll savings plan. The bottom line is that savings bonds were purchased on the same day I received the direct deposit for the rest of my paycheck in my checking account. I don't remember how long it took for these transactions to be displayed on TreasuryDirect's website, but if it was more than one day lag I would be very surprised.
Thank you for the detailed response. I decided to contact TD to inquire about the deposit. As interest rates are very low, I'm not contributing much into the account. However, I do want to make sure that what I am contributing will eventually be deposited into the correct account.

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