What Happens if Payday Falls on a Bank Holiday? Your employees may be wondering, “Will my direct deposit go through on a holiday?” If your bank closes during your business’s payday, transferred funds will be inaccessible and your employees won’t be able to receive their direct deposits, cash, or check. Federal Government Labor Laws Regarding Paydays on Holidays. Any employer would be hard-pressed to find an employee who will wait to be paid until after the holiday when the regular payday is on a. Holidays by Jurisdiction. We’ve broken Canada down into 13 jurisdictions, based on legislation. Note that the “Fed” jurisdiction applies to employees governed under the Canada Labour Code, Part III.This includes employees in federal industries relating to infrastructure, finance, transportation, telecoms, many First Nations activities, and most federal Crown corporations, to name a few. I get paid every two weeks at my current job, but this season I am just a substitute because I have been away at school. I haven't even put in too many hours, but I am wondering what's going to happen since next week's pay day falls on New Years Day. Do I have to wait until the Friday after or January 2nd? Or does it not matter when it's a holiday? Amelia’s answer is obviously correct and of no use to you. Banks do not process transactions on holidays. So it won’t show in your account on the holiday. Most companies and payroll processors try to have the payroll completed in time to be deposi. What if payday falls on a holiday? 0 Comments Add a Comment. 1 Answer Active; Voted; Newest; Oldest; 0. Posted Monthly employees will be paid on the first working day of the month. Biweekly employees will be paid every other Friday unless a holiday interferes with that schedule. Between 50% – 78% of workers live paycheck to paycheck. These employees (and likely all employees) count on receiving their wages on their scheduled pay date. But, bank holidays might pose a slight hiccup. An employee's employment contract states that they will be paid on the last of the calendar month.It also states they will be paid by bank transfer. Beyond that, the contract doesn't go into further detail. On a month in which the final day of the calendar month falls on a weekend, because of the fact that there is a delay by the banks over the weekend, the money doesn't arrive in the employee. There is no requirement for timely payment of wages if a payday falls on a weekend or holiday. For employers who fall under the requirement to make wage payments semimonthly, if the first or the fifteenth of the month occurs on a day which is not a working day, the last preceding working day shall be the payday for all personnel who are paid at one location. In the US, if you work for the federal or state government or are retired from the government you should get paid the day before. If your pay would normally be direct deposited on Friday the 4th.