18 bank accounts that will process your paycheck up to 2 days faster with early direct deposit
Updated
2021-09-17T21:14:39Z
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You could get your paycheck into your account up to two days early with several banks.
Other institutions make money by holding onto your paycheck longer to earn interest on the funds.
Early direct deposits give you quicker access to your money and may let you earn interest sooner.
See Insider's picks for the best checking accounts »
Direct deposit is the fastest way to get your paycheck into your checking account. Several banks make this process even faster by implementing early direct deposit features.
Early direct deposit can effectively get your paycheck into your checking account up to two days early. Below, find 18 accounts that offer this service, and an explanation of how they can do it and why it can be smart to take advantage.
18 bank accounts with early direct deposits
1. Albert Cash
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No minimum opening deposit
No monthly service fees
No overdraft fees
Up to 20% cash back
Receive paychecks up to 2 days early
Cons
$2.50 out-of-network ATM fee
No option to overdraw funds
No way to deposit cash
No joint accounts
55,000 free ATMs, with an ATM locator in the app
Deposit cash via direct deposit, mobile check deposit, or transfers from other bank accounts
Activate cash-back rewards with one merchant at a time, within your mobile app
FDIC insured through partner institution, Sutton Bank
2. Ando Spending
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No minimum opening deposit
No monthly service fees
No overdraft fees
Receive direct deposits up to 2 days early
Coming soon: remote cash checking
Cons
No option to overdraw
No joint accounts or secondary debit cards
$2.95 out-of-network ATM fee
GreenDot will charge a fee when you deposit cash
Ando only invests in products that cut down on carbon emissions and cancel out greenhouse gases
In the Impact Center, track how your deposits and the deposits of people you refer are being invested
38,000+ free ATMs in the US in the MoneyPass network
Debit card is made with 80% less plastic than most cards
Deposits are FDIC insured through partner bank, Community Federal Savings Bank
Read Our Review
3. Andrews FCU Free Checking
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
$5 minimum opening deposit
No monthly service fees
Receive your paycheck up to 1 day early
Overdraft protection by linking to savings or using an overdraft line of credit
Cons
$1 out-of-network ATM fee
$32 overdraft fee
Black-owned credit union with branches in DC, MD, NJ, VA, and WA; branches in Belgium, Germany, and the Netherlands
5,000 shared branches in the CO-OP Shared Branch network
30,000 free ATMs in the US in the CO-OP Shared ATM network
Join Andrews FCU by being an employee/member by one of the credit union's Employer Groups; live, work, study, or worship in DC; are a member of the American Consumer Council; are an immediate family or household member of an Andrews FCU member; are an active military member or veteran, or a family member of someone who served at Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst; are a civilian personnel of Joint Base Andrews or Joint Base McGuire-Dix-Lakehurst, or a family member; are a qualifying military member or civilian personnel of the Department of Defense, or a family member; otherwise qualify based on military affiliation
You must open a Base Share Savings Account to become an Andrews FCU member
Federally insured by the NCUA
Read Our Review
4. Axos Bank Essential Checking
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No monthly service fees
Receive your paycheck up to 2 days early
Unlimited out-of-network ATM fee reimbursements
Multiple overdraft protection options
Cons
No physical branch locations
Deposit cash through Green Dot, which may charge fees
Online-only account
If you don't enroll in overdraft protection, purchases that would overdraw your account will be denied
FDIC insured
Read Our Review
5. Capital One 360 Checking
Annual Percentage Yield (APY)
0.10% APY
Editor's Rating
Pros
0.10% APY on all account balances
No opening deposit or minimum account balance
No monthly service fee
No foreign transaction fee
Range of overdraft protection options
Processes direct deposits up to 2 days early
Cons
Doesn't reimburse out-of-network ATM fees
Limited access to customer service by phone
New Capital One 360 Checking customers who open a new account from 6/16/2021 to 8/17/2021 using promo code BONUS150 and complete two direct deposits each worth $250 or more within 75 days of account opening, will receive $150
Over 70,000 free ATMs nationwide
Over 470 branches in 8 states and DC
Interest compounded daily, paid monthly
FDIC insured
Read Our Review
6. Cheese Account
Annual Percentage Yield (APY)
0.30% to 3% APY
Editor's Rating
Pros
No minimum opening deposit
No monthly service fees
Earn interest
Earn higher interest for 30 days when you refer a friend
Earn cash back
Receive your paycheck up to 2 days early
No overdraft fees
No out-of-network ATM fees
Bilingual customer support (English and Mandarin)
Cons
No option to overdraw funds
Doesn't reimburse fees charged by out-of-network ATM providers
Interest compounded monthly, not daily
Over 30,000 free ATMs in the MoneyPass network
Digital checking account meant for immigrants and Asian American customers
Earn 0.25% cash back on all purchases and up to 10% cash back at over 10,000 retailers
Choose to donate your $5 sign-up bonus and cash back to the following nonprofits that support Asian Americans: Asian Pacific Fund, Welcome to Chinatown, AAPI Women Lead, and Southwestern Chinese Students and Scholars Association
Earn 3% APY on balances up to $10,000 for 30 days if you refer a friend
Interest compounded monthly
FDIC insured by partner bank, Coastal Community Bank
Read Our Review
7. Chime Spending Account
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No minimum opening deposit
No monthly service fees
Receive your paycheck up to 2 days early
Rounds debit card purchases up to the nearest dollar and puts spare change in your Chime Savings Account
No overdraft fees for overdrafts up to $200 with SpotMe, if you qualify
No foreign transaction fees
Request checks be sent to recipients online
Cons
$2.50 out-of-network ATM fee
No overdraft protection for overdrafts exceeding $100
Deposit cash at Green Dot locations, which may charge fees
No physical checkbook
Limited to $200/day or $1,000/month transfers from external bank accounts, if initiated through Chime
38,000+ free ATMs nationwide through MoneyPass® and Visa® Plus Alliance
Rounds debit card purchases up to the nearest dollar and moves spare change into your Chime Savings Account
Qualify for SpotMe overdraft protection by receiving $500 in direct deposits per month
Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.
Read Our Review
8. Credit Karma Money Spend
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No minimum opening deposit
No monthly service fees
No overdraft fees
No out-of-network ATM fees
Receive your paycheck up to 2 days early
Instant Karma gives you the chance to receive a purchase reimbursement
Cons
No physical locations
No joint accounts
Doesn't reimburse fees charged by out-of-network ATM providers
No way to deposit cash
No option to overdraw
Florida and New York residents are not eligible for Instant Karma benefits
55,000 free ATMs in the Allpoint network
With Instant Karma, Credit Karma randomly chooses debit card purchases to reimburse
Partner bank is MVB Bank
FDIC insured for up to $5 million
9. Current Premium Personal Checking Account
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No minimum opening deposit
Get your paycheck up to 2 days early
No overdraft fees when you overdraw by up to $100 with Overdrive™
Gas station holds immediately credited to your account
Earn points when you swipe your card at participating merchants
Cons
$4.99 monthly service fee
No way to waive monthly service fee
$2.50 out-of-network ATM fee
No overdraft protection for purchases of more than $100
No way to deposit cash
Access to over 55,000 Allpoint ATMs in the US, Puerto Rico, Mexico, Canada, UK, and Australia
Qualify for Overdrive™ by receiving at least $500 in direct deposits per month
Funds are FDIC insured by Choice Financial Group
10. GoBank Checking Account
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
Get your paycheck up to 2 days early
Get your government benefits up to 4 days early
Mobile check deposit
Online and paper checks available
No overdraft fees
Cons
Opening deposit must be between $20 and $500
$8.95 monthly service fee
$4.95 fee for depositing cash at a participating retailer
$3 out-of-network ATM fee
Over 42,000 free ATMs nationwide
Waive $8.95 monthly service fee by receiving $500/month as a paycheck or government benefits
Cash deposits aren't available in Vermont
FDIC insured
Read Our Review
11. GTE Financial Full Access Checking Account
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No minimum opening deposit
Get your paycheck up to 1 day early
Free overdraft protection if you have another GTE Financial account
Cons
Early direct deposits are $3 per paycheck
$4.95 monthly service fee
Credit union, so membership required; several ways to become a member, including joining CU Savers with a one-time $10 fee
23 locations around Tampa, but membership available nationwide
Free access to 30,000 ATMs
Waive the $4.95 monthly service fee by enrolling in eStatements AND making $500 in deposits per month, OR making 15 debit card or credit card transactions per month
Federally insured by the NCUA
This credit union has four checking accounts, including one for students. GTE Financial Full Access Checking is its most basic checking account, but all four offer early direct deposit.
12. Navy Federal Free Active Duty Checking
Annual Percentage Yield (APY)
0.05% APY
Editor's Rating
Pros
No minimum opening deposit
Refunds up to $20 per month in out-of-network ATM fees
Receive direct deposits one day before payday
No monthly service fee if you set up military direct deposits
Free personalized checks
3 overdraft protection options: savings transfer, line of credit, or optional overdraft protection service
Cons
Interest compounded monthly, not daily
Free Active Duty Checking is only for active military, retired military, or reservists
Available to active military, retired military, or reservists
Join Navy Federal Credit Union as an active military member, military veteran, Department of Defense employee/retiree, or family member of any of the aforementioned groups
247 branches worldwide, including on select military bases
30,000 free ATMs
Interest compounded monthly, paid monthly
Federally insured by the NCUA
Read Our Review
13. One account
Annual Percentage Yield (APY)
1% on your Save Pocket; 3% on your Auto-Save Pocket
Editor's Rating
Pros
No minimum opening deposit
No monthly service fees
Earn a high APY on your savings pocket and automatic savings pocket
Use your debit card as overdraft protection
No fee for using an out-of-network ATM
Receive paychecks sooner with early direct deposits
Cons
Only earn interest on up to a certain balance
Doesn't reimburse any fees charged by out-of-network ATM providers
You'll pay interest on overdraft line of credit if you don't repay the cash in a month
Free access to 55,000 Allpoint ATMs in the US
The One Account acts as a hybrid checking/savings account
Set up a Savings Pocket and earn 1% APY on balances up to $5,000
Round up debit card purchases to the nearest dollar, and the money goes into Auto-Save Pocket; earn 3% APY on your Auto-Save Pocket
If you overdraft your account, the debit card acts as a line of credit
Earn more rewards by setting up direct deposits: Earn interest on your Save Pocket balance up to $25,000; increase your line of credit; put 10% (up to $1,000 per month) of paychecks into Auto-Save where it earns 3% APY
Deposits are FDIC insured through Coastal Community Bank
Read Our Review
14. OneUnited Bank BankBlack Checking Account
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
Receive your paycheck up to 2 days early
Doesn't charge a fee at out-of-network ATMs, although the ATM provider may
Overdraft protection available if you have another OneUnited account
Cons
$50 minimum opening deposit
$10 monthly service fee
$15 fee each time you transfer funds for overdraft protection
Largest Black-owned bank in USA
Branches in CA, FL, and MA; online accounts available nationwide
Over 30,000 free ATMs nationwide
Waive $10 monthly service fee by maintaining a $500 balance, OR receiving 1 direct deposit per month AND making 10 debit card transactions per month
FDIC insured
Read Our Review
15. Porte Account
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No monthly service fees
No minimum opening deposit
Mobile check deposit
Receive paychecks up to 2 days sooner with early direct deposit
Contactless payment option
Earn cash back at select retailers
Debt management tools
Choose a charity, and Porte will donate money
Turn overdraft features on and off
Cons
No physical branches
$2.50 out-of-network ATM fee
$20 overdraft fee
Free access to 32,000 MoneyPass ATMs
True Debt Calculator helps you understand and manage your debt
Choose a charity (Humane Society, Save the Children, or GLAAD), and Porte will donate to it by matching a percentage of your purchases
Earn cash back at select retailers
Contactless pay through Apple Pay, Google Pay, and Tap to Pay
Turn overdrafts on and off — when on, you'll pay a fee if you overdraft; when off, a purchase that would overdraw will be denied
FDIC insured through MetaBank
Read Our Review
16. LendingClub Rewards Checking Account
Annual Percentage Yield (APY)
0.00% to 0.15% APY
Editor's Rating
Pros
Earn 1% cash back on credit purchases if you have at a $2,500 balance on your account
Earn interest on your checking account
No monthly service fee
Receive your paycheck 2 days early
Unlimited refunds on out-of-network ATM fees
Overdraft protection is available that lets you link to another account
Cons
$100 minimum opening deposit
Must have $100,000 in your account to earn the highest APY
$25 non-sufficient funds charge
$5 daily overdraft fee after the 5th straight day of a negative balance
Interest compounds monthly, not daily
Earn 1% cash back on all credit purchases if you have at least $2,500 in your account
Earn 0.00% APY if you have an account balance of $0.00 to $2,4999.99
Earn 0.10% APY if you have an account balance of $2,500 to $99,999.99
Earn 0.15% APY if you have an account balance of $100,000 or higher
Access to over 325,000 surcharge-free ATMs through the NYCE, SUM and MoneyPass ATM networks
Interest compounded monthly, paid monthly
Member FDIC
Read Our Review
17. Varo Checking Account
Annual Percentage Yield (APY)
None
Editor's Rating
Pros
No minimum opening deposit
No monthly service fees
No foreign transaction fees
Get your paycheck up to 2 days early
No overdraft fees on overdrafts up to $50, if you qualify for No Fee Overdraft
Earn cash-back rewards
Cons
No physical branch locations
No overdraft protection if you overdraw by more than $50
$2.50 out-of-network ATM fee
No joint accounts
Access to 55,000+ Allpoint ATMs in the US, Puerto Rico, Mexico, Canada, UK, and Australia
Earn up to 15% cash back at select retailers; see current cash back offers in the Varo app
When you receive $5 in cash back, the money is automatically deposited into your account
Qualify for No Fee Overdraft by swiping your debit card 5 times per month, AND receiving at least $1,000 in direct deposits per month
If you overdraw by more than $50, there will be no fee — your transaction will just be denied
FDIC insured
Read Our Review
18. Wealthfront Cash Account
Annual Percentage Yield (APY)
0.10% APY
Editor's Rating
Pros
Use as both a savings and checking account
$1 opening deposit
No monthly service fees
FDIC insured for $1 million
Get paid 2 days early
Access to a debit card
Mobile check deposit
Automatically move extra money into investments with Autopilot
Save for separate goals in one account
Cons
No physical branch locations
To deposit cash, pay a fee at a Green Dot location
$2.50 out-of-network ATM fee
FDIC insured for $1 million
19,000 free ATMs
Autopilot feature lets you set maximum account balance, and automatically transfers money into investments if you exceed maximum balance by more than $100
Interest compounded daily, paid monthly
Read Our Review
How banks process your paycheck early
How is possible for banks to get your paycheck into your account early?
"From a technical standpoint, any bank is capable of getting you your paycheck up to two days early ... but they choose not to because they make money holding your paycheck hostage for a day or two," Kate Wauck, Vice President of Communications for Wealthfront, told Business Insider.
"It's referred to as 'float' which is basically banks double-counting deposits for a short period of time before they clear the transaction so they can earn interest on both of the amounts," she continued. "A bank credits a customer's account as soon as a check is deposited. Until the check clears the account it's drawn on, the amount it's written for 'exists' in two different places, appearing in the accounts of both the recipient's and payer's banks. So a bank will earn interest on the amount twice. So as you can see there isn't huge incentive for banks to speed up the process because of float and their ability to double interest payments."
Some banks choose not to hold onto your direct deposits, though, which can provide incentive for you to bank with the institution.
Benefits of early direct deposits
Early direct deposits have two main perks:
Faster access to your money. This perk especially useful if you're living paycheck to paycheck or have a big bill coming up. At the very least, having your money sooner is convenient.
Start earning interest sooner. Some banks pay interest on their checking accounts, or you can transfer money from checking to a savings account that earns interest. Thanks to compound interest, every day your money accumulates interest helps you earn more.
Laura Grace Tarpley, CEPF
Editor, Banking & Mortgages
Laura Grace Tarpley is an editor at Insider, responsible for banking and mortgage coverage on Personal Finance Insider. She covers mortgage rates, refinance rates, lenders, bank accounts, and borrowing and savings tips. She is also a Certified Educator in Personal Finance (CEPF). Before joining the Insider team, she was a freelance finance writer for companies like SoFi and The Penny Hoarder, as well as an editor at FluentU. You can reach Laura Grace at ltarpley@insider.com.Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC.
Disclosure: This post may highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team. Read our editorial standards.
More: Checking Account Early Direct Deposit Axos Bank Axos Essential Checking
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