March 12, 2023

Ceridian not impacted by Silicon Valley Bank, but is helping customers

Update as of March 12 at 7:00p.m. ET:

This evening, the U.S. Treasury, Federal Reserve, and FDIC announced that depositors of Silicon Valley Bank and Signature Bank will be made whole on Monday, March 13. We are pleased this will help those who may have been impacted by the closing of these banks and look forward to continuing to serve the payroll needs of our customers. 


Original message as of March 12 at 8:00a.m. ET:

Ceridian is not a customer of Silicon Valley Bank; and as such, does not have any deposits with or directly use any services of the bank. We do not believe that the closure of the bank will have any material impact to our overall business or operations. 

We are actively supporting a few of our customers that used Silicon Valley Bank – including working with them to change their bank information on file to another banking platform to prevent any payroll disruptions to their employees. We also can reassure Dayforce Wallet customers that all funds loaded onto Dayforce Wallet cards are FDIC insured. 

We remain focused on helping our customers during this situation and will continue to keep this post updated accordingly.

Team Ceridian

Our experts provide timely, essential insights and analysis for HCM leaders. We share fresh strategies and practical tips for businesses of all sizes, thoughts on hot topics and industry trends, and the latest legislative updates.

View Collection

Thank you!

You’ll receive our next newsletter when it becomes available.

Sign up for our newsletter

Get the latest thought leadership from Ceridian
See the Ceridian Privacy Policy for more details.