Get paid early with banks that offer early direct deposit. When you get paid sooner, you can pay bills sooner and avoid the negative effects of late payments on credit scores.
Banks that offer early direct deposit immediately let you access your funds while the bank processes your payment from your employer or government agency.
Instead of holding on to your paycheck until the process is complete, the bank deposits the paycheck before it processes the payment, essentially acting on “good faith” that the employer's payment will clear.
Top 9 Online Banks That Let You Get Paid Early
Getting paid 2-3 days early gives you a jump on your savings and investing goals.
1. Consumers Credit Union is best for high-interest checking
2. Upgrade Rewards Checking Plus is best for cash back rewards
3. SoFi Bank is best for high-yield checking and savings
4. Acorns is best for automatic investing spare change
5. Axos Bank is best for unlimited ATM reimbursements
6. OneUnited Bank is best for no-credit check $1000 loan
7. Albert Banking is best for automatic savings feature
8. Go2Bank is best for automatic savings feature
9. Card.com is best for personalized debit card
1. Consumers Credit Union
Consumers Credit Union is a credit union based in Illinois with membership open to anyone regardless of where they live or work. Financial products and services include checking, savings, CDs, personal, auto and mortgage loans, small business banking, investments and financial education. The monthly free checking account is called Rewards Checking with the following features:
- Unlimited reimbursement for any and all ATM fees**
- Over 30,000 ATMs & over 5,000 shared branches
- Online & mobile banking plus bill pay
- Get paid as much as two days early with early direct deposit**
- No monthly maintenance fees, for anything
2. Upgrade Rewards Checking Plus Account
People looking for cash back rewards and getting paid up to 2 days early will find Upgrade Rewards Checking Plus at the top of the list. Along with free checking, no overdraft fees and over 60,000 fee-free ATMs, customers get up to 2% cash back on common everyday expenses for active accounts with a monthly $1,000 direct deposit 1 plus many features including the following:
- $0 Minimum Opening Deposit.
- Up to 2% cash back on common everyday expenses for active accounts with monthly $1,000 direct deposit, and up to 1% cash back for other purchases2.
- Optional savings account that earns 5.21% APY3.
- Customers with direct deposit can get paid up to two days early4.
- No monthly fees, no overdraft fees5, and get reimbursed for ATM fees with an active account.
- FDIC-Insured Up to $250,000.
Upgrade is a financial technology company, not a bank. Checking and savings accounts provided by Cross River Bank, Member FDIC.
3. SoFi Bank Checking & Savings
The joint Checking and Savings Account at SoFi comes with no overdraft fee and no monthly fees. New members can earn a $25 welcome bonus by making an opening deposit of $50 using a debit card or by making an opening deposit of $10 by linking to an external bank account. Earn an additional bonus up to $250 by setting up a qualifying direct deposit from an employer, payroll, retirement pension, or benefits provider.
- Monthly fees: $0
- Minimum opening deposit: $100
- Interest earned with direct deposit: 4.50% APY on savings balances and 1.20% APY on checking balances
- Interest earned without direct deposit: 1.20% APY on all account balances in checking and savings
- Free ATMs: 55,000+ fee-free ATMs.
- Early paycheck: Get paid up to 2 days early with direct deposit.
- Free Overdraft: No-fee Overdraft Coverage with qualifying monthly direct deposit
- FDIC insured: Yes
4. Acorns Checking Account
Acorns is primarily a money app that helps you invest and save. Acorns offers an FDIC-Insured Checking Account that does not use ChexSystems or pull a credit report. The Acorns app has tools to benefit your overall financial well-being by investing your spare change, managing everyday banking transactions, saving for retirement, and growing your wealth building knowledge.
- Monthly fees: $3 per month for an individual account or $5 for families
- Minimum deposit: $10
- Cashback: The Acorns marketplace gives customers a small percentage cashback on purchases made at hundreds of major retailers, including Walmart
- Early direct deposit: Receive pay up to two days earlier with direct deposit
- More Acorns Features: All Acorns banking customers get a heavy metal laser engraved Acorns Visa™ debit card
- FDIC insured: Yes
Acorns is not a bank. Acorns Visa™ debit cards are issued by Lincoln Savings Bank or nbkc bank, Members FDIC for Acorns Checking account holders
5. Axos Rewards Checking
The Axos Rewards Checking account is a good choice for no-fee banking. There are no monthly maintenance fees, competitive cash back rewards, and customers have access to over 91,000 fee-free ATMs across the U.S.
- Monthly fees: $0
- Minimum deposit: $50
- ATM Fees: Customers get unlimited reimbursements of ATM fees in the US
- Overdraft: Zero overdraft or NSF fees
- FDIC insured: Yes
6. OneUnited Bank
OneUnited Bank's Online Checking Account is available to people in ALL STATES. Customers can add cash to the OneUnited Bank Debit Card at over 90,000 locations across the country through a partnership with Green Dot®. To get started go to the “Get the Card” button, enter your name, email address and cell phone number. Choose the Black Wall Street Checking account option along with the opening deposit, then complete your identification details (name, address, SSN, and employer).
- Monthly fees: $0
- Minimum deposit: $25
- Free ATMs: Obtain cash, surcharge free at over 100,000+ ATMs
- Cash-Back Rewards: Up to 20% cash-back in different categories like food, hair products, hotels, cosmetics, home goods.
- Early direct deposit: Get paid up to two days earlier with direct deposit
- More OneUnited Bank Features: Cash advance feature called “CashPlease” that offers a short-term loan up to $1,000 without a credit check
- FDIC insured: Yes
»See Full OneUnited Bank Review
APPLY NOW7. Albert Banking
With Albert, there is no minimum deposit requirement to open an account. The Albert Genius feature analyzes your income and spending to find extra dollars to save automatically. All funds are insured up to $250,000 through federally backed FDIC protection. Albert will spot you up to a $250 cash advance with no credit check, interest or late fees.
- Monthly fees: $0
- Minimum deposit: $0
- Cashback: Earn cashback on gas, groceries, delivery, and more.
- Early direct deposit: Receive pay up to two days earlier with direct deposit
- More Albert Features: Save and invest right in the Albert banking app
- FDIC insured: Yes
Albert is not a bank. Banking services provided by Sutton Bank, Member FDIC
8. Go2bank
Go2bank provides a range of financial services, including a checking account, savings account, and debit card. Go2bank also offers various features like early access to paychecks, cashback rewards on certain purchases, and the ability to deposit checks remotely using your mobile device.
- Monthly fees: No monthly fees with eligible direct deposit, otherwise $5 per month¹
- Other fees: No hidden fees²
- Overdraft protection: Overdraft protection up to $200, with opt-in and eligible directs³
- Minimum deposit: $0
- Early paycheck: Get your pay up to 2 days early with direct deposit⁶
- ATM Access: Free nationwide ATM network⁷
- FDIC insured: Yes
9. Card
Card offers a variety of debit card designs, early access to paychecks, and the ability to deposit checks remotely using your mobile device.
- $0 to open an account
- $50 opening bonus offer
- Deposit checks through the CARD.com mobile app
- Get your paycheck up to two days early
- Use it everywhere Debit Mastercard and Visa debit cards are accepted!
- No fee cashback at POS
- No fee MoneyPass® ATM withdrawal
- Real-time SMS§ & email alerts
- FDIC-Insured
How banks can offer your paycheck early
Early direct deposit works much like a regular direct deposit. Your employer submits payroll to the Federal Reserve's automated clearinghouse (ACH) system.
The ACH is a nationwide network through which banks and credit unions send each other electronic credit and debit transfers like direct deposits. Your direct deposit may arrive 2 to 3, or more days before your scheduled payday. Most banks hold onto your deposit until your employer’s allotted payday.
Banks with early direct deposit will release your paycheck as soon as it receives notification from the ACH a deposit has arrived. This is the reason why you may get paid up to two days earlier than your coworkers at the same company. For example:
- Let’s suppose that your coworker has a checking account at Bank of America and you have a checking account at Current which offers early direct deposit.
- Your payday falls on a Friday.
- Your employer sends payroll instructions to their bank Monday morning.
- After your employer’s bank and the ACH finish passing deposit instructions along, your bank and your co-worker's bank both receive the payment files on Wednesday.
- Next, both banks start processing the payment instructions. But, your co-worker must wait for his paycheck to arrive at his Bank of America account, while your bank, Current, deposits the money into your account so you can access your funds right away on Wednesday instead of getting paid on a Friday – up to two days faster than your coworker.
How to set up early direct deposit?
Setting up early direct deposit involves the same steps as a regular direct deposit. Here are the steps to take:
- Get a direct deposit form from your employer or your bank.
- Fill in your banking information that includes personal and bank details like the bank address, bank routing number, account number, and bank address.
- Choose to deposit 100% or a partial amount of your paycheck into your checking account.
- Attach a voided check or deposit slip, if required.
- Give the form to your employer, and wait for the direct deposit to go into effect. It may take several weeks.
The main difference between early direct deposit vs. direct deposit is that early direct deposit simply allows you to access your paycheck funds faster. But in both cases, it is essential to make sure that your routing and account numbers are accurate to avoid returned funds and fees.
Benefits of direct deposit
The benefits of direct deposit generally outweigh the benefits of receiving a paper check. For example:
- With electronic deposits, you can have your pay immediately available on payday without being present or having to go somewhere to deposit or cash your paycheck.
- Direct deposit can also mean you get your money faster from other payors as well, like the IRS, rather than waiting for a check in the mail. Most Americans recently witnessed getting paid sooner with coronavirus stimulus checks. Everyone with direct deposit received the stimulus money much quicker than those receiving mailed paper checks.
- You can make savings easier by splitting your direct deposit into two or more accounts. If you can put a portion, such as 20%, of your paycheck into a high-yield savings account, to save automatically each month.
Reasons Employees Like Banks That Offer Early Deposits
Most people love getting paid – whether you get paid weekly, bi-monthly, or monthly. In fact, employees are happier on payday than on Christmas according to a 2018 survey commissioned by QuickBooks Payroll where employees said that payday makes them happier than Christmas morning. Some reasons people are happier on paydays include:
- Get ahead of your debt
- The ability to avoid timing issues and overdrafts with paying bills on payday by receiving your paycheck earlier
- Payday means you can pay bills and have peace of mind
- Dine out with friends or family
- Make a purchase you've been waiting for
- Enjoy a night out
- Attend a sporting event
Stay on top of your bills by getting paid early
Getting paid early lets you pay bills on time and do more with your money. You can even boost your emergency savings and get a head start on earning compound interest. Get a handle on your money with funds made available to you right away instead of the bank holding onto your money. Prevent overdraft fees for running out of money!
Final thoughts
These online banks are not the only banks that offer early direct deposit. There are many banks that feature early paycheck options. Some banks may have a small fee involved for the service. Check your local banks and credit unions if you prefer banks that have branch locations. Direct deposit is already convenient, but early direct deposit ensures you get paid much faster.
Upgrade Disclaimers
1 Active Accounts with a monthly direct deposit of $1000 are eligible for additional benefits on Rewards Checking Plus such as additional cash back rewards, ATM fee reimbursement, and more. See the Active Account page for more information.
2 Rewards Checking Plus customers who set-up monthly direct deposits of $1,000 or more earn 2% cash back on common everyday expenses at convenience stores, drugstores, restaurants and bars – including deliveries – and gas stations, as well as recurring payments on utilities and monthly subscriptions including phone, cable, TV and other streaming services, and 1% cash back on all other debit card purchases. 2% cash back is limited to $500 in rewards per calendar year; after $500, customers earn 1% cash back on all eligible debit card purchases for the remainder of the year. Rewards Checking Plus accounts with less than $1,000 in monthly direct deposits 60 days after account opening will earn 1% cash back on common everyday expenses and 0.50% cash back on all other eligible debit card purchases. Some limitations apply. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information.
3 The 1.5% Annual Percentage Yield (APY) for the Performance Savings account is effective as of June 1, 2023. The APY for the Performance Savings account is variable and may change at any time. Active Accounts qualify for 5.21% APY with monthly $1000 direct deposit. The APY for Active Accounts is effective as of September 1, 2023, is variable, and may change at any time. Please refer to the applicable Cross River Bank Performance Savings Deposit Account Agreement and Truth in Savings Disclosure. To earn APY, you must open and fund a Performance Savings account. Rewards Checking Plus accounts do not earn APY.
4 Early direct deposit requires set up of recurring electronic direct deposit from your employer, payroll, or benefits provider and is limited to direct deposits under $5000. Early access to direct deposit funds depends on the timing in which we receive notice of impending direct deposit, which is generally up to two days before the scheduled deposit date.
5 There are no overdraft fees or annual fees associated with Rewards Checking Plus accounts. Rewards Checking Plus charges no ATM fees, but third-party institutions may charge you a fee if you use their ATM/network or if you use your Upgrade VISA® Debit Card internationally. For Active Accounts, Upgrade will rebate ATM fees charged by another institution for debit card withdrawals in the United States, up to five times per calendar month. To be eligible to receive third-party ATM fee rebates in any calendar month for eligible ATM withdrawals made during that month on a Rewards Checking Plus account, the account must be an Active Account in the prior calendar month. See the Active Account page for more information. As a courtesy to new customers, Upgrade will provide third-party ATM fee rebates for 60 days after account opening regardless of account user status. Some limitations apply. Please refer to the applicable Cross River Bank Checking Deposit Account Agreement and Upgrade VISA® Debit Card Agreement and Disclosures for more information.
