16 banks with early direct deposit

The ability to receive direct deposits early is an increasingly common benefit among digital banks, with brick-and-mortar banks also beginning to offer this feature. Banks that offer early payday or early direct deposits typically don’t require manually signing up for the service. In most cases, this perk is automatic when you set up direct deposit and doesn’t require a separate enrollment.

Featured accounts

All of these bank accounts allow you to get paid up to two days early with eligible direct deposits.

• SoFi's terms and conditions

  
  New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Direct Deposit can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.60% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  Our account fee policy is subject to change at any time.
  SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms
  See list of participating banks at SoFi.com/banking/fdic/receivingbanks
  We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time
  Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
  

Banks that offer early direct deposit

Bank	Speed	How to sign up	Accounts w/ early direct deposit
SoFi	Up to two days early	Automatically enrolled w/ direct deposit	SoFi Checking and Savings or Samsung Money by SoFi account
Axos Bank	Up to two days early	Automatically enrolled w/ direct deposit	Limited to Axos Essential Checking account
Capital One	Up to two days early	Automatically enrolled w/ direct deposit	Checking accounts
Chase Bank	Up to two days early	Automatically enrolled w/ direct deposit	Limited to Chase Secure Banking℠
Chime	Up to two days early	Sign up with Get Paid Early feature in the app	Limited to Chime Checking account
Current	Up to two days early	Automatically enrolled w/ direct deposit	Current account
Discover	Up to two days early	Automatically enrolled w/ direct deposit	Checking, savings, money market accounts (excluding IRA savings)
Fifth Third Bank	Up to two days early	Automatically enrolled w/ direct deposit	Fifth Third Momentum Checking accounts only
Found	Up to two days early	Automatically enrolled w/ direct deposit	Found business bank account
GO2bank	Up to two days early, or up to four days early for government benefits	Automatically enrolled w/ direct deposit	GO2bank hybrid account
Huntington National Bank	Up to two days early	Automatically enrolled w/ direct deposit	Checking accounts
Lili	Up to two days early	Automatically enrolled w/ direct deposit	Lili business accounts
Nationwide	Up to two days early	Automatically enrolled w/ direct deposit	Direct Checking, Interest Checking, and My Checking accounts
Regions Bank	Up to two days early	Automatically enrolled w/ direct deposit	All checking, savings, money market accounts, and the prepaid Now Card.
Wells Fargo	Up to two days early	Automatically enrolled w/ direct deposit	Checking and savings accounts
Varo	Up to two days early	Automatically enrolled w/ direct deposit	Varo Bank account
One	Up to two days early	Automatically enrolled w/ $500+ direct deposit	One account

One terms and conditions

How early direct deposit works

Normally, banks will hold on to your paycheck to process it before the funds are released to you. But banks, neobanks and fintech companies that include early direct deposit features are willing to deposit your payroll payment into your account before they’ve finished processing the funds from your employer — with no extra fees or work on your part.

This means getting your paycheck a few days earlier than what was scheduled, because the bank provides the funds as soon as the payor gives the deposit information instead of waiting for the transfer to clear.

Do I need to enroll in early direct deposits?

In most cases, you don’t need to enroll to get early direct deposits. It’s usually an automatic feature included as part of the account. But there are exceptions like Chime, which requires you to opt in to early direct deposit payments by choosing the feature Get Paid Early in the app.

Benefits of early direct deposits

There aren’t really cons to setting up early direct deposit. Here are the main benefits:

• Early access. When your paycheck lands in your account early, you have instant access to the funds.
• No fees. Early paycheck arrival doesn’t come with any fees, as it’s a complimentary service for setting up direct deposit.
• More than paychecks. In addition to getting paychecks early, tax refunds and stimulus payments might also arrive ahead of time.
• Save a little more. The sooner you have access to your money, the more quickly you can move some of it into a savings account to start earning interest.
• No APR. Unlike payday loans and pay advance apps, early direct deposits don’t involve loans of any sort, so there’s never any interest to pay.

Timely direct deposits depend on employer's payroll processing

How early you get your direct deposit also depends on how fast your employer or the payor processes your payment. For instance, if your employer processes payroll on the 12th for a deposit on the 15th, you'll likely get your paycheck on the 13th. But if your company processes payroll on the 14th, you might not get your paycheck early at all. Direct deposits also don't arrive on weekends or federal holidays.

— Alexa Serrano Cruz, CAMS, Lead Editor, Personal Finance.

3 alternatives to bank accounts offering early direct deposits

If you like the idea of getting paid early but don’t want to switch banks, there are other ways to get early access to your paycheck:

• Prepaid debit cards. Most prepaid cards, like Netspend All-Access Account and Flare Account, offer early direct deposits.
• Cash management accounts. Cash management accounts, or CMAs, offer a combination of banking and investing services, and some, such as Wealthfront Cash Account, support early direct deposits.
• Payday advance apps. Cash advance apps such as Brigit, Dave and Earnin can help you get your hands on some cash prior to your payday. But this isn’t a preferred alternative, as they have monthly fees and strict limitations regarding how much money you can access.

Bottom line

Early direct deposits are growing in popularity, and there’s a good reason why. There are almost no drawbacks to this benefit, as it can help you save or spend money on essentials sooner. But if none of these options support your needs, explore other bank accounts.