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Share This Article:Most businesses increasingly rely on direct deposits to pay workers. One benefit of this process is that you can often receive access to your money quickly, and sometimes, you can even access your funds before your usual payday.
Knowing what time a direct deposit will hit can relieve a great deal of financial stress for someone who lives paycheck to paycheck.
Direct deposit is an automated process that allows a government agency, an employer, or other third parties to instruct its financial partner, such as a bank, to electronically transfer funds into your bank account on a specified date. Direct deposit eliminates the need for paper checks or either party to visit the bank. Once the funds have been deposited in your bank account, they are immediately available to you.
Direct deposit has grown in popularity in recent years due to its convenience for employees, with assurances that their paycheck will arrive on payday without them having to lift a finger. It’s also cost-effective for companies, as they avoid the expense of printing and distributing paper checks.
In most cases, a direct deposit will hit at midnight between 12:00 AM and 6:00 AM on a scheduled payday or the following business day after the deposit was made.
Direct deposits are designed to be immediate, meaning you receive payment on the same day the payer initiated the deposit. The time for getting this money, on the other hand, will depend on the sender and the financial institution used for sending the money.
For instance, your employer may have a system in place that guarantees each employee is paid according to the payroll schedule. In this case, the direct deposit will hit at midnight on payday. However, the time when a direct deposit will hit on payday will vary depending on the bank used by the employer.
Knowing about bank deposit times will help you understand when to expect the money in your account. Below is a list of direct deposit times for all the major banks and credit unions in the country.
Axos Bank makes direct deposit immediately your employer sends a payroll notice to the bank. Unlike most banks, Axos direct deposits are posted two days before payday. Once Axos Bank deposits your money, it will hit your account and become available the same business day. Learn more about AXOS Bank direct deposit.
Bank of America direct deposit will hit your account in “real time” on the same business day your employer made the deposit. Bank of America direct deposit same-day processing cut-off time is 9 PM EST. Any deposit after 9 PM will become available the following business day. Learn more about Bank of America direct deposit.
Read Also: BIC / SWIFT code for all banks: Here's how to find your Swift codeBECU, also known as the Boeing Employees’ Credit Union, usually posts direct deposits between 12 AM to 2 AM PST. The funds will hit your account early morning following the day your employer initiated the deposit.
Truist (formerly BB&T) direct deposit will hit your account the same day your employer deposited the funds, typically between 12 AM and 6 AM EST.
Capital One direct deposit usually hits latest 9 AM EST the same day it receives the deposit from your employer.
Chase Bank direct deposits are posted on business days as soon as your employer sends the deposit to them. Typically, they are posted by 6:30 AM.
Citibank direct deposits are generally posted between 12 AM and 7 AM on the same business day the bank receives the deposit.
Citizens Bank direct deposits are typically posted between 3 AM and 6 AM EST.
Fidelity direct deposits are usually posted to your account between 12 AM and 7 AM EST on the business day the bank receives the deposit from your employer.
Fifth Third Bank does not have a specific time that direct deposits post to accounts, but deposits are generally posted on the same day your employer sends them funds. Funds deposited outside business hours may take an extra business day.
Wells Fargo direct deposits are generally posted by 6:30 AM same business day the bank receives the deposit.
Direct deposits at the Navy Federal credit union are typically posted to accounts between 12 AM and 6 AM EST on the day the bank receives the deposit (excluding weekends).
PenFed credit union direct deposits are usually posted between 7:30 AM to 8:30 AM EST
PNC Bank direct deposits typically post to accounts between 12 AM and 8 AM EST on the day the bank receives the deposit.
Security Service Federal credit union direct deposits are posted to accounts between 4 AM and 6 AM EST.
Direct deposits at State Employees credit union are expected to post the same day your employer sent the deposit to them. However, the funds must be scheduled latest 5:30 PM EST on a business day to be eligible for same-day processing.
SunTrust Bank (now Truist) direct deposits are available the day your employer sends the funds. Usually between 12 AM and 7 AM EST
TD Bank direct deposit funds are generally posted no later than 6 AM EST on the date your employer sent the funds. If you’re expecting a payroll deposit and Tuesday is your payday, for example, your funds will be available by 6 AM on Tuesday of your pay week.
USAA will post direct deposit to your account the same day your employer sends the funds. However, USAA can deposit the fund one day early, provided your employer post the funds at least two business days in advance of your payday schedule.
U.S. Bank direct deposit typically hit by 8 AM PST on the day requested by your employer.
Direct deposits at Woodforest National Bank are sent immediately on the same date the bank receives the fund, as long as your employer deposited before 8 PM CST on a business day.
Chime direct deposit will hit your account latest 9 AM EST on your payday. Often, direct deposit from your employer or benefits provider will arrive in your Chime account two days earlier. Learn more
