If I get paid bi-weekly, does that mean the 10.00 I want to go into my savings will be 5.00 dollars a pay period?

No it means you have to tell them exactly what you want, what did the paper you signed for the withholding say, only your HR will know this

You are going to be paid every two weeks which comes out to 26 pay periods.Are thinking of an automatic deposit to your savings from each pay check?

I'm thinking they can be different, but virtually the same.

I'm thinking that a "payroll period" is when hours have to be in by and "pay period" is when you get paid.

So, let's say you get paid every Friday and you're an hourly employee with non-set hours.

Your employer says that your timesheet is due Wed morning by noon, so you can be paid on Friday.

I could be off base too.

Your payroll period ends on Wed and your pay period ends on Friday.

They need sometime to prepare payroll for hourly employees.