5 Early Direct Deposit Banks: Get paid up to 2 days faster


Get paid up to 2 days faster with early direct deposit banks. Plus, paydays make people happier than Christmas according to a 2018 Quickbooks PayrollSurvey.

Direct deposit is the easy way to have paychecks deposited electronically into your checking account. Other income such as social security, retirement and employment benefits also qualify for early direct deposit.

Early direct deposit banks are now offering a benefit many prepaid debit cards offered for many years.

Most banks wait until payday to give you access to your money even though employers typically process payroll a few days before payday.

Early direct deposit can be offered because every pay period your employer sends payroll files to the Federal Reserve. The Federal Reserve then notifies your financial institution the amount of your direct deposit along with the date you should receive payroll funds.

Early direct deposit banks immediately make your funds available as soon as the bank receives the notification from the Feds instead of holding on to your money until your pay date.

5 Online Banks With Early Direct Deposit

Online banks that offer early direct deposit give you access to your funds up to two days early so you don’t have to wait to pay off expenses or struggle at the end of a pay period.

1. Axos Bank – Essential Checking

banks-that-offer-early-deposit The Essential Checking Account at Axos Bank offers Direct Deposit Express that enables customers to get their direct deposit paychecks up to 2 days early. Axos Bank is a federally chartered, FDIC-insured, full-service online bank founded in 2000. The Essential Checking Account makes it simple for customers to manage their account from all of your electronic devices. It's a hassle-free, no-fee checking account where customers can make mobile deposits and also deposit cash at any ATM location, nationwide with the Axos Bank debit card. You can open this bank account online with a $25 opening deposit.

Essential Checking Account Features

  • Get paid up to 2 days early with Direct Express.
  • Unlimited domestic ATM reimbursements.
  • No monthly maintenance fees.
  • No annual fee.
  • No overdraft or non-sufficient funds fee.
  • Plus, with your Axos Bank debit card, you can deposit cash at any location, nationwide.

2. Chime Spending Account

The Chime Spending Account allows customers to get their direct deposit up to 2 days early. There is no check writing with this account, but it does not charge monthly fees or overdraft fees. Another place where Chime shines is they have a large free ATM network but unlike Axos Bank, you cannot deposit cash at ATM locations.

Chime Spending Account Features

  • Get paid up to 2 days early with direct deposit.
  • No hidden bank fees.
  • No monthly maintenance fees.
  • Grow your savings automatically.
  • No overdraft or non-sufficient funds fee.

3. Varo Mobile Checking

Varo is a mobile-only banking app with a free checking and high-yield savings. There are no overdraft or monthly fees or minimum balance requirements. Varo also includes a fee-free ATM network, budgeting tools and automatic savings programs. You can deposit cash at 90,000+ retail locations using Green Dot Reload @ the Register but retail service fees apply.

Varo Mobile Checking Features

  • Get paid up to 2 days early with direct deposit.
  • No overdraft fees. (See requirements).
  • No ATM fees at 64,000+ Allpoint® ATMs.
  • No monthly maintenance fees.
  • No foreign transaction fees.
  • No minimum balance fees. And no other fees.

Learn More

4. Radius Bank

Radius Bank is a full-service online bank, with one branch in Boston. Radius Banks features ATM fee reimbursements, high interest rates and a rewards checking where you can earn 1% cash back on signature-based purchases in stores and online (at store checkouts, you select “credit” instead of “debit”). If your balance hits $2,500, a 1.00% annual percentage yield kicks in. If you have $100,000 or more, the rate becomes 1.20% APY.

Radius Checking Account Features

  • You can receive your paycheck up to two days early, depending on your employer.
  • Receive 1.00% cash back on online and signature-based “credit” transactions made with a Radius debit card.
  • Unlimited 1% Cash Back Free ATMs worldwide and unlimited rebates.
  • Earn 1.00% on balances of $2,500-$99,999.99 or 1.20% APY on balances of $100,000 & up.

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5. GTE Financial

GTE Financial has been serving the Tampa Bay area since 1935, with 23 locations and over 30,000 FREE ATMs. Credit unions are not-for-profit financial institutions focused on member ownership. GTE Financial offers the same products and services as banks except profits are then returned to members in benefits like higher dividend yields, lower rates and fees, new products and services. As one of the nation's largest credit unions membership is available online in all states.

GTE Financial Checking Account Features

  • Get paid up to 2 days early with direct deposit for $3.00
  • $4.95 monthly service fee.
  • Online & Mobile Banking Tools.
  • Free Bill Pay Service.
  • Popmoney to transfer money to friend and family using their email address

Learn More

Stay on top of your bills with early direct deposit

With early direct deposit, you can get your paycheck before the month is up to pay necessities like rent, utilities and cell phone bill – all these essential expenses tend to accumulate at the end of the month. Early direct deposit can prevent you from paying late fees or worse, paying overdrafts that add up.

Boost your savings with early direct deposit

With early paychecks, if you normally get paid on Fridays, you could see your paycheck by Wednesday. Getting your money earlier means more money to set aside for saving, whether it’s for a large purchase or for an emergency fund. To reach your goals faster, open a high-interest savings account.

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