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15 Banks That Help You Get Paid Faster With Early Direct Deposit

Written by Jill A. Chafin | Edited by Ali Cybulski | Published on 6/20/2024


If you find yourself counting down the days until payday, you may now be able to receive your funds a bit earlier thanks to early direct deposit. This relatively new banking feature is increasingly available as a perk, often for free, for certain accounts.

Here’s more about early direct deposit and how to find a bank that offers it.

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What is early direct deposit?

Early direct deposit, also called early pay or early payday, allows you to access funds from your paycheck up to two days before your official payday.

Originally offered by fintechs and online banks, early direct deposit has recently become more popular with traditional banks and credit unions, which are eager to provide this perk to customers. Using early direct deposit can help you avoid overdraft fees if most of your bills are due before payday.

While many banks deliver this service for free, some may charge a small fee. In addition, you may need a specific type of checking account to qualify for early direct deposit.

How does early direct deposit work?

Banks with early direct deposit typically make the funds available in your checking account as soon as they receive payroll details from your employer rather than waiting for the funds to clear first.

Once you’re receiving your paychecks via direct deposit, your bank may automatically activate early direct deposit. Enabling alerts on your bank’s mobile app can be a great way to stay on top of when funds become available. Note that it may take up to two billing cycles for early direct deposits to take effect

When you receive a deposit can depend on when your employer submits payment information. The timing of deposits could vary, and sometimes you may not receive your funds early.

If your bank advertises early direct deposit and you’ve enrolled in direct deposit with your employer, but your funds aren’t arriving early, check with your bank and your employer about any extra steps you may need to take.

15 financial institutions with early direct deposit

If you’re looking for credit unions or banks that offer early direct deposit, here are some options to consider.

Financial institutions with early direct deposit
Institution Account name Automatic early payday with eligible direct deposit Monthly fees Minimum initial deposit Additional benefits
Ally Bank Spending Account Up to 2 days early $0 $0
  • Earn up to 0.25% annual percentage yield (APY) on your balance.
  • Receive up to $250 in CoverDraft overdraft coverage.
Axos Bank Essential Checking account Up to 2 days early $0 $0
  • Get unlimited ATM fee reimbursements.
  • Have fee-free access to more than 90,000 ATMs nationwide.
Capital One 360 Checking account Up to 2 days early $0 $0
  • Earn 0.10% APY on your balance.
Chase Secure Banking account Up to 2 days early $0 with qualifying monthly direct deposits; otherwise, $4.95 monthly $0
  • Get monthly service fees waived if you have $250 or more in direct deposits each month.
Citizens Bank Personal checking, savings or money market account Up to 2 days early Fees and waivers depend on account type Deposits depend on account type
  • Use the Peace of Mind program for extra time to cover overdrafts and get overdraft fees rebated.
Consumers Credit Union Rewards Checking account Up to 2 days early $0 $5
  • Earn up to 5% APY on your balance.
Discover Bank Checking, savings or money market accounts Up to 2 days early $0 $0
  • Get cash back on up to $3,000 in monthly debit card purchases
Fifth Third Bank Momentum Checking account or Express Banking account Up to 2 days early and up to 5 days early for tax refunds $0 $0
  • Receive Early Pay with other types of deposits, such as retirement and child support payments.
GO2bank Any bank account Up to 2 days early and up to 4 days early for government benefits $5; waived when you receive a payroll or government benefits direct deposit in the previous monthly statement period Open an account online for free; a card purchased at a retail store requires an initial deposit of $20 to $500.
  • Receive up to $200 in overdraft protection after eligible direct deposits and opt-in.
Huntington Bank Checking account Up to 2 days early Monthly fees depend on account type; Asterisk-Free Checking has no monthly maintenance fees. $0
  • Qualify for Standby Cash, a digital line of credit that can serve as a safety net in case your early direct deposit is late.
LendingClub Rewards Checking account Up to 2 days early $0 $25
  • Get 1% cash back on qualified purchases made with your Rewards Checking debit card.
  • Earn 0.10% APY on balances between $2,500 and $99,999.99 and 0.15% APY on balances greater than $100,000.
  • Receive unlimited ATM rebates.
OneUnited Bank Noninterest-bearing checking Up to 2 days early Some accounts do not charge fees; others may waive fees with qualifying direct deposits or qualifying direct deposits and debit card point-of-sale withdrawals. Minimum deposits for checking accounts range from $25 to $500.
  • Nation’s largest Black-owned bank
  • Large surcharge-free ATM network of more than 100,000 machines
Regions Bank Personal banking account or prepaid Regions Now Card® Up to 2 days early Monthly fee depends on account type; checking fees can be waived with qualifying direct deposit or average monthly balance, or with a combination of Regions debit and credit card purchases $50 for checking
SoFi Bank Checking and Savings account Up to 2 days early $0 $0
  • Get a sign-up bonus of up to $300.
  • Earn up to 4.60% APY on savings balances and 0.50% APY on checking balances with direct deposit.
Wells Fargo Any checking or savings account Up to 2 days early $10 monthly fee on Everyday Checking can be waived with $500 minimum daily balance or qualifying direct deposit, among other options. $25 for Everyday Checking
  • Everyday Checking account includes access to My Spending Report to track deposits, payments and withdrawals for a better understanding of your finances

Pros and cons of early direct deposit

While early access to pay can offer benefits such as helping you tackle bills ahead of schedule, you’ll also want to weigh potential drawbacks before relying on this service.

Pros: Cons:

✅ Cover bills or other expenses on time with deposits up to two days early.

✅ Transfer money to high-yield savings and money market accounts earlier, helping you earn more interest.

✅ Get tax refunds and other government payments sooner, depending on the bank.

X  Not all checking and saving accounts qualify.

X  You could face overdraft fees if the direct deposit ends up posting later than usual.

X  Some financial institutions charge fees for early direct deposit services.

Tips to make the most of early direct deposit

If you’re ready to get your paycheck up to two days early, here are some tips to help you make the most of this service.

  • Stick to a budget: Receiving your funds a day or two ahead of schedule could increase the temptation to overspend. Create a budget, if you don’t already have one, and set up autopay to ensure you don’t indulge in unnecessary shopping until you cover essential expenses first.
  • Set up overdraft protection: Because early direct deposit isn’t guaranteed, setting up overdraft protection on your account is wise. This way, you can cover your bills, even if your paycheck comes a day or two later than expected.
  • Avoid additional fees: Some financial institutions charge fees for early direct deposit, which may negate the benefits of using this service. Additionally, you might need to pay a monthly maintenance fee to use a checking account that’s eligible for early direct deposit. However, you can often waive these fees by having a certain amount of funds directly deposited into your account every month.
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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.