While ADP’s ability to process payroll and other ADP services were not impacted by the recent closure of Silicon Valley Bank or Signature Bank, we know how serious an issue this continues to be for you and your employees who may be impacted. If you’re still experiencing difficulties or have questions, we are here to help.
On March 12, 2023, Treasury, Federal Reserve Board and FDIC announced actions to help avoid disruptions to depositors by ensuring they will have access to their funds starting Monday, March 13, 2023. Our service teams are at-the-ready to help support you and your employees with processing your payroll or other ADP service needs.
We will be updating this resource hub regularly with the latest details on our efforts to provide you the support you need.
We are ready to provide you with the support you need and will continue to use every effort to help you navigate this issue.
Yes, we are processing payrolls from your SVB or Signature Bank account. We’re actively working to return to our standard funding methods and get you back to business-as-usual as quickly as possible. We are reaching out to each affected client by pay date to make these changes and will be in touch with you soon.
If you have any questions, please reach out to your service rep for immediate assistance.
If you have already moved to another bank, we can help you complete the necessary information to process your upcoming payrolls. Please contact your service rep for immediate assistance.
There is a heightened threat of social engineering attempts as a result of the recent banking events. Some clients have received fraudulent emails appearing to come from companies that have been impacted by recent bank closures. These emails may request your credentials, personal identifiable information, and updates to bank information to “ensure smooth continuation of payment services.”
It’s important to be alert for this fraudulent email and follow the instructions below to report it to ADP if you receive any suspicious email:
To learn more, please visit ADP’s Security page here.
Yes, we are able to process direct deposits to your SVB or Signature Bank account as directed by you or your employer. For any other questions regarding your bank account, please contact the bank or FDIC customer service at 1-866-799-0959.
If you need to change your direct deposit election from SVB or Signature Bank to another bank, please reach out directly to your payroll administrator for assistance.
ADP is actively working with our clients who bank with these institutions to ensure proper processing of payroll and other ADP services.
Additional Resources / FAQs
We are closely monitoring the situation and have robust Business Resiliency measures in place, including a sophisticated banking infrastructure that includes our use of over a dozen nationally-recognized banks, to maintain business operations while providing unwavering support to our clients where needed.
ADP has demonstrated our steadfast commitment to our clients in other emergency situations, and we will continue to use every effort to do so. ADP’s credit ratings are AA- / Aa3 / AA- from Standard & Poor’s® and Moody’s® and Fitch, the strongest in the HCM industry. Additionally, we have a robust, global, integrated Business Resiliency Program in place to help maintain business operations for more than one million clients. Please find additional information here.
