What Time Does Direct Deposit Hit?

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Prostock-Studio / iStock/Getty Images

According to a 2023 survey by PayrollOrg, over 95% of Americans receive their paycheck via direct deposit. Receiving your pay via direct deposit saves you a trip to the bank and provides quick access to funds when needed. However, you may wonder what time your direct deposit will hit your account, especially if you need funds fast.

What Time Does Direct Deposit Hit?

Direct deposit of a payroll check from your employer will typically arrive right at midnight on payday, but it can sometimes take until around 9 a.m. Although direct deposit takes one to three business days to process, many employers use payroll software to set up a specific date that you’ll get paid, which speeds up the pay timeline.

However, the time frame for receiving this money ultimately depends on who sends the money and your bank. And if your deposit hits on a holiday or a weekend, it can delay the funds showing up in your account.

Payroll Direct Deposits

Your employer likely follows a schedule to ensure that direct paycheck deposits will hit your bank account at a set time each payday. However, depending on your bank, it may take a few hours or days for your direct deposit to reflect in your bank account balance. Or you could get your funds earlier than your scheduled payday.

Government Direct Deposits

Direct deposits from the government, such as Social Security benefits, arrive on the second, third or fourth Wednesday of the month. If Wednesday is a national holiday, the direct deposit will hit the last business day before the holiday.

What Is Direct Deposit?

A direct deposit is simply an electronic funds transfer through the ACH Network. The payer, like your employer, initiates an electronic payment deposited into your bank account rather than issuing a paper check.

What Is Early Direct Deposit?

Early direct deposit is a feature offered by some banks that offers access to direct deposit funds up to two days before the processing of the transaction.

How Do Direct Deposits Work?

ADP, a payroll company many businesses use to process direct deposits, explains how it works:

  1. Your employer’s bank sends a direct deposit request to the ACH Network on a predetermined day.

  2. The ACH Network processes the request and sends it to your financial institution.

  3. Your financial institution credits your account with the amount specified in the direct deposit request.

  4. Your employer’s bank debits the amount of your direct deposit from its account.

Benefits of Direct Deposits

Direct deposits have many benefits, which is why many employers and the government have adopted them. Here are some of the benefits of direct deposits:

  • You get quicker access to your paychecks, which can help you avoid overdrafts.

  • They’re more secure than paper checks that can be stolen or forged.

  • You can automate saving by directing some or all of your pay to a savings account.

  • There’s no paper check to lose or destroy.

  • Checks are deposited automatically, saving you a trip to the bank.

  • They make payment errors easier to identify and correct. Physical checks and cash can be challenging to track.

Risks of Direct Deposits

While direct deposits are faster, safer and more convenient than paper checks, they do have some drawbacks.

  • Potential data security risks to employees and employers.

  • They’re unavailable to anyone who doesn’t have a bank or credit union account, or an account on a payment platform such as Cash App.

How To Set Up Direct Deposits

To set up direct deposit, you must fill out a form provided by an employer or the government. You’ll need to fill in your name, address, account number and your bank’s name and routing number. Sometimes, you may need to provide a copy of a voided check and sign a consent form giving your employer permission to switch you to direct deposit. It might take a pay cycle or two before your direct deposit request takes effect.

Can You Direct Deposit Money to Yourself?

Yes. If you own a business, including as a sole proprietor, you can set up a direct deposit to transfer your pay from your business account to your personal account.

Direct Deposit Times for Major Banks

How long it takes for your direct deposit to be accessible depends on factors like the size of the deposit and the bank’s transfer and processing times. To give you an idea of how banks may differ in direct deposit times, here’s a list of direct deposit times for some major U.S. financial institutions.

Axos Bank Direct Deposit Time

Axos Bank customers who enroll in Direct Deposit Express can access their paychecks up to two days before the regular pay date. If you don’t have Direct Deposit Express, you should receive your earnings on payday.

Bank of America Direct Deposit Time

Bank of America, Member FDIC, offers same-day access to direct deposits. Through its online banking platform, you can set up alerts that send you a text message or email when your money becomes available.

Capital One Direct Deposit Time

Capital One offers an early paycheck feature that credits your earnings to your 360 Checking account up to two days before payday. There is no fee for the service, and it’s automatically available to people with Capital One checking accounts.

Chase Direct Deposit Time

Chase customers can access their paychecks up to two business days before their payday with a Chase Secure Checking account.

Chime® Direct Deposit Time

People with a Chime* checking account can receive their direct deposits up to two days early1. You can set up push and email notifications if you’d like to know once your money is available.

Citizens Bank Direct Deposit Time

Citizens Bank credits direct deposits up to two days early to clients who enroll in direct deposit and have a checking, savings or money market account.

Pentagon Federal Credit Union Direct Deposit Time

Direct deposits made to a Pentagon Federal Credit Union account are available up to two days before your payday.

TD Bank Direct Deposit Time

TD Bank offers Early Pay where you can get your direct deposit up to two days before your usual payday.

USAA Direct Deposit Time

USAA allows you to access your funds up to two business days before your pay date, depending on when your employer sends the payment details.

Wells Fargo Direct Deposit Time

Wells Fargo’s Early Pay Day feature gives you access to your paycheck up to two days before payday. Early Pay Day is free to people with direct deposits and doesn’t require a separate enrollment.

Do Direct Deposits Occur on Sundays?

No, direct deposits do not occur on Sundays because the Federal Reserve’s automated clearing house services are responsible for settling the payments, and it is not available on Federal holidays or weekends.

Can You Receive Direct Deposits Without a Bank Account?

Although you need a bank account to receive a direct deposit, some employers offer the option of a pay card. A pay card allows your employer to load your pay onto the card, which you can then use to make payments or purchases. You can also use the pay card to withdraw money from ATMs.

Final Take

Whether your bank account shows your direct deposit at midnight or a few hours later, it’s the quickest way to access your funds. After all, if you decide to get paid using a paper check, you may have to wait several business days for your check to clear before you gain access to the money. If your employer offers direct deposit, now’s the time to sign up.

Direct Deposit FAQ

When it comes to direct deposits, some of the most common questions include the following:

  • What time of day does direct deposit hit?

    • For payroll checks, your direct deposit will often hit between midnight and 9 a.m. on payday. However, the timing can vary from one financial institution to another, so it's best to check with your employer, payroll company or bank.

  • Why hasn't my direct deposit hit yet?

    • There are multiple reasons your direct deposit may not be showing up in your bank account, but a few of the most common include the following:

      • The deposit was made after the cutoff time.

      • There is a delay between when the deposit was made and when the funds were available, like a holiday or weekend.

      • Your employer made a mistake when processing payroll, such as entering the wrong date.

    • If your direct deposit doesn't hit your bank account when you think it should, your best action is to contact your bank or employer.

  • How does my direct deposit work if I get paid on Friday?

    • If your employer uses payroll software that ensures your money is available on payday, you should see your direct deposit hit your bank account on that Friday.

  • What banks let you get paid up to two days early?

    • Here is a list of FDIC-insured banks that are known for offering access to your direct deposit up to two days early:

      • Axos Bank

      • Capital One

      • Chase

      • Citizens Bank

      • USAA

      • Wells Fargo

  • Is direct deposit free?

    • With most banks, setting up direct deposit for your paycheck is convenient and free. However, you could be subjected to overdraft fees if you withdraw funds before they hit your account. Always check that the funds have been deposited.

  • Why didn't my direct deposit go through at midnight?

    • Direct deposit times vary depending on different factors, including bank processing times and when your employer sends payroll. Most banks post direct deposits before 9 a.m. each business day.

  • How does direct deposit work if I get paid on Monday?

    • As long as your employer submits their direct deposit files before the end of the day on Friday, your money should be available on Monday. However, if Monday is a holiday or your employer misses the cutoff time, your pay may not be available until the next business day.

  • What time does Chime direct deposit hit on Wednesday?

    • If you have a Chime account and you're expecting a Wednesday direct deposit, the money should be available before 9 a.m. Some direct deposits post earlier, such as between midnight and 6 a.m.

  • What time will a pending deposit go through?

    • Pending direct deposits will usually clear at midnight on payday, but it can sometimes take until around 9 a.m. The exact time can vary depending on your bank and the payer.

Explore More on Direct Deposit

Cynthia Measom, Virginia Anderson, Andrea Norris and Daria Uhlig contributed to the reporting for this article.

Information is accurate as of June 13, 2024.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

The information related to Chase Secure Checking was collected by GOBankingRates and has not been reviewed or provided by the issuer of this product. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for this product.

*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

1 Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally makes these funds available on the day the payment file is received, which may be up to two days earlier than the scheduled payment date.

This article originally appeared on GOBankingRates.com: What Time Does Direct Deposit Hit?

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