32 Banks With Early Direct Deposit 2024

A paycheck that arrives early thanks to early direct deposit is something that not all banks provide.

With the help of a banking service called early direct deposit, you can get paid up to two days ahead of time. Not all banks provide this service, and those that do can have restrictions on the accounts that qualify.

Early direct deposit is a relatively new function in the banking sector, having gained more traction in the last few years than many other features. According to a NerdWallet investigation, banking financial tech companies like Chime, Venmo, and Cash App were early adopters and gained popularity during the COVID-19 pandemic due of early direct deposit. More conventional banks and credit unions have started to offer the service from 2021.

How early direct deposit works

At most banks, early direct deposit is a free, automated service. In this instance, “automatic” denotes that, if you qualify, there is no need to register. If your paycheck is generally sent on Friday, it would arrive on Wednesday if you receive it early, which is defined as one to two days ahead of payday.

But in order to take advantage of early direct deposit at an institution, a few conditions must be met:

You already receive your government benefits or paychecks by direct deposit, which is an electronic check rather than cash or paper money. (If you can, learn how to set up direct deposits if you don’t already.)

Before payday, your bank must receive information about your direct deposit from your company or a government agency. Payroll data is typically sent by employers to banks up to two days prior to the arrival of payments. Banks are able to push income into your account early since they know the money is on its way.

What types of institutions offer early direct deposit?

Early direct deposits are available from large and small traditional banks, credit unions, neobanks, and online banks. Below is a summary of these kinds:

Banks are businesses that operate for profit, and the Federal Deposit Insurance Corp. provides federal insurance for bank accounts.

One kind of bank that mostly functions without physical branches is an online bank.

With comparable accounts that are federally guaranteed by the National Credit Union Administration rather than the FDIC, credit unions are the non-profit counterpart of banks.

Neobanks are financial technology companies that work with banks to provide federally insured accounts. Given their bank relationships and accounts, a number of well-known fintech companies, like PayPal (with its app Venmo) and Block’s Cash App, might be categorized as neobanks; nevertheless, these platforms are more often referred to as peer-to-peer transfer apps or digital wallets.

Financial institutions with early direct deposit

The banks, credit unions, and neobanks on this list provide early direct deposit options.

Financial institution (click the name to see our review)	Direct deposit details
Ally	Up to 2 days early.
Capital One	Up to 2 days early.
Chase	Up to 2 days early, but limited to the Chase Secure Banking℠ account.
Chime	Up to 2 days early. + See more information from Chime
Wells Fargo	Up to 2 days early.

+ See the full list of 32 institutions

Financial institution (Click on the name to see our review)	Direct deposit details
Ally	Up to 2 days early.
Andrews Federal Credit Union	Up to 1 day early.
Axos Bank	Up to 2 days early, but limited to the Essential Checking account.
Capital One	Up to 2 days early.
Cash App	Up to 2 days early.
Chase	Up to 2 days early, but limited to the Chase Secure Banking℠ account.
Chime	Up to 2 days early. + See more information from Chime
Citizens Bank	Up to 2 days early.
Consumers Credit Union	Up to 2 days early.
Current	Up to 2 days early.
Fifth Third Bank	Up to 2 days early, but limited to the Fifth Third Momentum Checking account.
GO2bank	Up to 2 days early for paychecks, up to 4 days early for government benefits.
Golden 1 Credit Union	Up to 2 days early.
Huntington Bank	Up to 2 days early.
LendingClub Bank	Up to 2 days early.
Nationwide (by Axos)	Up to 2 days early.
Navy Federal Credit Union	Up to 1 day early, but limited to the Free Active Duty Checking account.
One	Up to 2 days early.
OneUnited Bank	Up to 2 days early.
PayPal	Up to 2 days early.
PenFed Credit Union	Up to 2 days early.
Regions Bank	Up to 2 days early.
Revolut	Up to 2 days early.
SchoolsFirst Federal Credit Union	Up to 1 day early for members who are school employees in participating districts.
Service Credit Union	Up to 2 days early.
SoFi	Up to 2 days early.
State Employees’ Credit Union of North Carolina	Up to 1 day early.
USAA	Up to 2 days early.
Varo	Up to 2 days early.
Venmo	Up to 2 days early.
Wealthfront	Up to 2 days early.
Wells Fargo	Up to 2 days early.

What are the benefits of early direct deposit?

Early deposit of your salary into your bank account may help you avoid late or overdraft fees by preventing you from paying bills after the due date. One of the highest fees a bank or credit union can impose is an overdraft fee, which can happen when a transaction lowers the amount in your checking account than the balance.

Getting an extra day or two to collect interest on your money could be another advantage of receiving your salary early, particularly if you consistently move a portion of it to a high-yield savings account.

Are there any issues with early direct deposit?

Remember that the “early” portion of this service is dependent on when your employer processes payroll and is not guaranteed. Financial institutions may not all offer early direct deposit on all of their checking accounts, and availability varies as well.

Does Wells Fargo have 2 day early direct deposit?

Early Pay Day: What Is It? Direct Deposit includes Early Pay Day; there is no cost or enrollment needed. We may release the cash for your usage up to two days ahead of your regular pay date, provided we have information regarding your incoming direct deposit from your payor.

Which type of deposit is available immediately?

Cash deposits are made directly into your account and are immediately available for use. However, the funds typically won’t be accessible until the following business day for checks and other items that might require verification (to safeguard you and the bank).

Breaking

32 Banks With Early Direct Deposit 2024