Wave Payroll: Bank holiday direct deposit timelines

Holiday bank closures will impact timelines for your employees to receive direct deposit. Below, we’ve listed the dates that banks will be closed in Canada and the United States so you can plan ahead.

Why can’t my employees get paid on holidays?

Wave can only facilitate movement between your bank account and your employees' bank accounts on business days. The direct deposit process normally takes four business days, but any holidays in the interim will extend that timeline. Since the holidays below are not considered business days, instructions sent to your bank and your employees' banks will not be posted until the banks have re-opened. 

As an example of how this would affect you, let's say you were expecting your employee's pay to be deposited on Labour Day, which falls on Monday, September 7th:

If the payroll was approved before 3pm on Tuesday, September 1st, employee funds would deposit on Friday, September 4th. 

If it was processed after 3pm on Tuesday September 1st, employee funds would deposit on Tuesday, September 8th. 

2020 Bank Holidays in Canada

Alberta

Holiday Date
New Year's Day Wednesday, January 1st
Family Day Monday, February 17th
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
Canada Day (Observed) Wednesday, July 1st
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th 
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th 
Boxing Day Monday, December 28th

British Columbia

Holiday Date
New Year's Day Wednesday, January 1st
Family Day  Monday, February 17th
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
Canada Day (Observed) Wednesday, July 1st
B.C. Day Monday, August 3rd
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Manitoba

Holiday Date
New Year's Day Wednesday, January 1st
Louis Riel Day  Monday, February 17th
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
Canada Day (Observed) Wednesday, July 1st
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

New Brunswick

Holiday Date
New Year's Day Wednesday, January 1st
Family Day Monday, February 17th
Good Friday Friday, April 10th
Canada Day (Observed) Wednesday, July 1st
New Brunswick Day Monday, August 3rd
Labour Day Monday, September 7th
Thanksgiving Day  Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Newfoundland and Labrador

Holiday Date
 New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Canada Day (Observed) Wednesday, July 1st
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Northwest Territories

Holiday Date
New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
National Aboriginal Day Thursday, June 21st
Canada Day (Observed) Wednesday, July 1st
First Monday in August Monday, August 6th 
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Nova Scotia

Holiday Date
New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Canada Day (Observed) Wednesday, July 1st
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Nunavut

Holiday Date
New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
Canada Day (Observed) Wednesday, July 1st
First Monday in August Monday, August 6th 
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Ontario 

Holiday Date
New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
Canada Day (Observed) Wednesday, July 1st
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Prince Edward Island

Holiday Date
New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Canada Day (Observed) Wednesday, July 1st
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Saskatchewan

Holiday Date
New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
Canada Day (Observed) Wednesday, July 1st
Saskatchewan Day Monday, August 6th 
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

Yukon

Holiday Date
New Year's Day Wednesday, January 1st
Good Friday Friday, April 10th
Victoria Day Monday, May 18th
Canada Day (Observed) Wednesday, July 1st
Discovery Day Monday, August 20th 
Labour Day Monday, September 7th
Thanksgiving Day Monday, October 12th
Remembrance Day (Observed)  Wednesday, November 11th
Christmas Day Friday, December 25th
Boxing Day Monday, December 28th

2020 Bank Holidays in the US

Holiday Date
Memorial Day Monday, May 25th
Independence Day Friday, July 3rd
Labor Day Monday, September 7th
Columbus Day Monday, October 12th
Veterans Day (Observed) Wednesday, November 11th
Thanksgiving Day Thursday, November 26th
Christmas Day Friday, December 25th
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