Banks That Pay Two Days Early

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.

28 banks that offer direct deposit up to two days early

• SoFi 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 of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received 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 1/31/2026. 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 4.00% 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 4.00% 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 12/3/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  
  SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% 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 stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  
  We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
  
  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/termsSee 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.

• One terms and conditions

  One is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC.
  Debit card rewards:
  ● Earn 10% cash back at Walmart, up to $20, on your first purchase. Limited time offer¹
  ● Get 3% cash back on future purchases, up to an additional $50 every year, with eligible deposits²
  ● Earn up to 5% cash back on select brands³
  Early Pay: Get paid up to 2 days early. Direct deposit may be available up to 2 days in advance, but depends on when your employer sends paycheck data.
  3.75% APY on Savings with eligible deposits: 3.75% annual percentage yield (APY) applies to the Savings balance of One Cash customers who either (i) received $500 or more of Direct Deposits in the previous month or (ii) have a total daily account balance of $5,000 or more. 3.75% APY is also earned on Pay Autosave balances without these deposit or balance requirements. In all instances, 3.75% APY is limited to a total Savings balance of up to $250,000. All other Savings balances will earn 1.00% APY. APYs are as of 12/20/2024, but may change at any time before or after account opening.
  ATM: Allpoint Network ATM transactions are fee-free for accounts with eligible direct deposits totaling at least $500 in the previous month. For all other ATM transactions the One ATM Fee will apply and third-party ATM fees may be incurred.
  Overdraft Protection: Available with Direct Deposits totaling at least $500 in the previous month. You must be 18 or older to receive Overdraft Protection. When on, Savings Backup will be used before Overdraft Protection. Overdraft balance is due right away. Transactions eligible for Overdraft Protection are at the discretion of One and may exclude certain transactions (e.g., bill pay, global transfers). See terms for details.
  ¹Only available to consumers who open an account through Walmart.com, the Walmart app, one.app, or the One app from 8/8/24 - 10/31/24. Terms apply.
  ²To receive 3% cash back, eligible customers (at the time their purchase settles) must (i) have received $500 or more of eligible direct deposits in the previous month, or (ii) have a total account balance of $5,000 or more. 3% cash back is limited to up to $50 per year and applies only to purchases made at U.S. Walmart locations and on Walmart.com. This promotion may not be combined with other One promotions that offer cash back on purchases at Walmart. Terms apply.
  ³Cash back can be earned through the Debit Rewards Program. Individual offer details can be found in the One app. Terms apply.

How early direct deposit works

Normally, banks will hold on to your paycheck to process it before releasing the funds to you. But banks that include early direct deposit will deposit your money into your account before they’ve finished processing the funds from the sender, with no extra fees or effort on your part.

In short, early direct deposit allows you to get paid early because the bank provides the funds as soon as the payor gives the deposit information instead of waiting for the transfer to clear.

Typically, you don’t need to enroll in early direct deposit, either. If the bank offers it and you’ve set up direct deposit, it’s almost always an automatic perk without an extra enrollment step.

How long does direct deposit take?

Direct deposit can take one to three days to clear. In nearly all cases, direct deposits don’t go through on weekends or holidays. Instead, the deposit will either be delivered the business day before the weekend or holiday or the following business day.

Do all banks offer early direct deposit?

Surprisingly, many large traditional banks such as Bank of America, PNC Bank and U.S. Bank still don’t offer early direct deposit. Local credit unions tend to lack this perk as well. If a brick-and-mortar bank offers early direct deposit, it may only be available for select accounts. For example, Chase Bank offers early direct deposit only on its Secure Checking account.

You are more likely to find early direct deposit with online banks such as Axos, SoFi and Varo or fintechs like Chime and Current.

Are there any banks that pay three days early?

If you want your pay sooner than two days early, you’re probably out of luck. Nearly all accounts with early direct deposit can only send payroll up to two days early, with a few exceptions like Charlie Banking, which can send Social Security payments three to five days early.

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 can access the funds immediately.
• 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 can access your money, the quicker you can move some into a savings account to earn 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.

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 the Netspend All-Access Account and the 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 the 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 before 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 for good reason. This benefit has almost no drawbacks, 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.

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Bethany Hickey

Editor, Banking

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

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