Early direct deposit besides DCU

[zyzz]

So I understand DCU offeres ones direct deposit up to two days early... any other financial inst. do this?

[minnie aubre]

Every credit union I've ever used does this. For me, it's been 1 day early.

[Glacier]

I know Fifth Third bank offers this as an option. They are always trying to get me to sign up. I've not signed up, but I know as long as I don't use it, there is no fee, but there is a fee if I do ask for my dd early.

[mellon]

NASA FCU does this..

[foeplay]

USAA

[Glacier]

I bank with Chase, and my direct deposit is in the bank 1 day prior to pay day.

[gobigorgohome]

Fidelity Cash Management Checking is also 1 day early.

[NewbietoFinance]

Ok, i have to ask... How does this even work... if they send your DD out on payday, how can you get it 2 days early? I am sure it is a simple answer, and sorry for the dumb question.

[jimbob]

wondering about this myself. Have one CU account now and it's credited on the day it is issued..

Just joined DCU and we will how it works with them.

BTW joining DCU was easy and quick. Used a local branch with no issues--- 3.5 years post Chapter 7

[TDoger]

My understanding is that the depositing institution "pings" (my term) the account prior to the actual deposit to make sure the money they will be sending is going into a valid account and will be accepted. With the "ping," the recipient bank knows the money is coming (including the amount) and elects to make it available prior to it actually being in the account. So it is dependent on the "ping" prior to deposit.

[jkk4life]

Actually I looked into this since I was curious and I think the way it works is the depositing institution actually sends the money to the bank 2 days early just in case they need to make any adjustments prior to "payday". The bank can then choose to deposit it into your account early.I think this is the reason banks want your direct deposit going to them since they get a nice 2 day float of free interest on your money.

[PhoenixDown]

I bank with Chase, and my direct deposit is in the bank 1 day prior to pay day.

 

Same with me for Chase and Citi ..,.

[SnowdIn]

I process payroll for my company- our direct deposit file is sent to the bank Wednesday night and deposited Thursday morning. OP, you might want to check with your employer. It won't do you any good to get early DD if your employer isn't sending it early enough.

[FreeaAndClear]

My DD is split between Chase and Wells Fargo. Neither show up early.

 

My company uses ADP, if it matters...