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How are payment dates calculated?
How are payment dates calculated?

Why can’t I schedule a payment on an earlier date?

Updated over a week ago

When scheduling a payment, or creating a pay schedule, you may find that the earliest available pay date is not as soon as you would prefer it to be. The earliest available pay date is calculated based on a few factors, including the amount of time it takes to send a payment to a global contractor.

Turnaround time for one-time payments

The turnaround time for processing payments is usually 4 business days. Given this, when you manually schedule a one-time payment in the ‘Pay contractors’ tab, the first available payment date is typically the fourth business day from the present day. For example, Monday 12 pm PT is the cut-off for Friday payment.

The exception to this is when you have a balance in your Plane account. You can add money by going to the Balance tab and clicking on 'Add money.' If you use only this to pay global contractors, you’ll be able to schedule the payment for an earlier date, typically, the second business day from the present day.

Once you’ve scheduled a payment, Plane will collect the amount from your bank or Plane account the next business day. This is regardless of the payment date you selected. However, if you schedule a payment before noon PT on a business day, we will start collecting funds on the same day.

Turnaround time for scheduled payments

For payments scheduled via a pay schedule, we typically need at least 5 business days to set up the first payments. However, this can vary depending on the pay frequency and pay day(s) selected. Note that the pay date will always default to a business day (Monday to Friday) if it falls on a weekend.

For future payments in a pay schedule, the pay dates will be automatically set based on what you initially selected. We’ll send you a notification when the upcoming payment is automatically scheduled. Receiving the notification gives you time to verify and adjust the payment(s) if needed. You can also add another global contractor if the pay date is at least 5 business days away. Plane typically collects the funds from your bank account the next business day after the payment has been created.

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