Banking partner delay

This incident has been resolved.

All payments with a check date of March 10th have been successfully submitted. Some have been completed, and others will complete between Saturday, March 11th and Monday, March 13th.

This morning, Rippling was assured by SVB that all payments would be processed today. However, when SVB fell into receivership with the FDIC, we immediately began working with JPMorgan Chase to find an alternative means to send funds to employees.

As a result of the actions we took, all employees will receive their payments between today and Monday morning, depending on which bank they use. Rippling has extended our own capital to fund these payments while client funds are locked up with SVB.

When will employees with a March 10, 2023 check date be paid?
- Employees with Chase bank accounts will be paid today, March 10th, by 11:59PM PST.
- Employees with other major bank accounts, such as Bank of America, Citibank and Wells Fargo may see their payments post today or over the weekend.
- Regardless of which bank they use, all employees will be paid before noon PDT on Monday, March 13th.

What will happen to new payroll runs after today?
Rippling has switched our banking infrastructure from Silicon Valley Bank over to JPMorgan Chase, and all future pay runs will be processed through JPMC. New payments initiated through Rippling are processed through JPMC and will not be impacted by these events. As a reminder, you received an email today about updating your bank with the necessary details to ensure smooth continuation of payment services. The subject line of the email is, “You need to take action today to continue using Rippling.” Please ensure you complete this task with your bank(s) today to ensure no further disruptions.

What about pay runs that have been initiated, but have check dates next week?
We will be communicating separately with clients about these in-flight pay runs.

We want to extend a heartfelt apology to our clients and their employees who did not get paid today. Although everyone will be paid by Monday morning, we know delays of any length have a real impact on the lives of employees. We’re doing everything we can to minimize the impact to everyone involved.

Rippling’s payment platform has been moved to JP Morgan Chase & Co., and all payments initiated today will be successfully processed.

For payments initiated prior to March 10th where accounts have been debited by SVB, Rippling is working to identify paths to timely payment. We will continue to update our customers via email, Twitter, and our support status page.

Our banking partner has acknowledged an operational delay in posting outgoing payments and has told us payments are being processed today by end of day PST. We are monitoring this closely.

We are receiving reports of delays and are actively investigating. We will provide updates here as soon as we have them.