Monthly paydays. Employers must establish regular paydays on which employees are paid all wages earned during the preceding pay period. The pay period may be monthly or every 30 days (whichever is longer) on regular paydays no later than 10 days after close of pay period, unless the employer and employee mutually agree on an alternative pay period (CO Rev. Stat. Sec. 8-4-103).
Notice of paydays. Employers must post conspicuously at the workplace or at the pay office a notice specifying regular paydays and the time and place of payment (CO Rev. Stat. Sec. 8-4-107).
Wages must be paid in cash or by check or other acknowledgment of indebtedness, payable in cash at a business in the state whose name and address appear on the face of the paper. This does not apply to public utilities engaged in interstate commerce and subject to the authority of the Public Utilities Commission (CO Rev. Stat. Sec. 8-4-102).
Employers may not pay wages with scrip, coupons, cards, or other redeemables, unless they are payable in cash when due. This does not prohibit an employer from guaranteeing the payment of the employee's bills for the necessities of life or for tools of the employee's trade.
Direct deposit. Employers may deposit wages in any financial institution of the employee's choice, if the employee voluntarily authorizes such a deposit (CO Rev. Stat. Sec. 8-4-102).
Electronic payroll card systems. Electronic payroll card systems may be used if they comply with the following requirements:
• All wages due an employee must be negotiable and payable upon demand without discount in cash, and payroll card systems must allow access to the entire amount of pay without charge;