Short answer: As soon as we get it!
Longer answer: Up to 2 days earlier than you’d get paid without Early Direct Deposit1, but it ultimately depends on your payer (your employer or a government agency). Sometimes, that could mean they sent their payroll file on a later date and/or time than last time.
Here’s how it works:
- Every pay period, your employer sends payroll files to the Federal Reserve, a.k.a “The Fed.”
- The Fed then uses those files to tell your financial institution (us) how much your Direct Deposit should be and the date we should receive payroll funds from your employer.
- Instead of holding on to your money while waiting for payroll funds from your employer, we immediately post the deposit to your account when we receive the files—which can come at different dates/times each pay period.
- That means Direct Deposits will never be pending in your account.
So, if it takes longer than last time for your deposit to hit your account, it means your employer sent payroll files to the Fed later than last time. As a result, we get the files later too. Don’t worry, we’re not holding on to your deposit!
Payday every other Friday? Here’s how Early Direct Deposit can work.
The date and time the person in this example gets their Early Direct Deposit can change week to week, but they still get paid before Friday payday.
Can I get notified when my deposit hits?
Of course! Turn on Push Notifications for instant alerts when your deposit arrives.
- In the app, tap Settings > Manage Notifications
- Tap the slider to turn on notifications
All this to say, you will always receive your Early Direct Deposit as soon as we do. If you have concerns about the timing of a certain direct deposit, ask your employer when their bank sent their payroll file that pay period.
1Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct Deposit and earlier availability of funds is subject to payer’s support of the feature and timing of payer’s funding.