Banking and Finance

5 Best Early Direct Deposit Banks: Get Paid up to 2 Days Early

Elizabeth
May 29, 2020

Next-Gen Personal Finance released statistics recently showing that 82% of employees in the United States receive their paycheck via direct deposit. It’s easy to see why; setting up direct deposit is quick, easy, and if you’re banking with the right bank, totally hassle-free.


While you might understand the benefits of setting up a direct deposit, did you know that some banks offer early direct deposits? This means that you don’t have to wait two days for your check to clear in your bank before you can access the funds. Instead, you’re free to use your hard-earned money nearly as soon as your employer sends it over.


Not all banks offer this feature, but here are five banks that will allow you to sign up for early direct deposits so that you can get paid up to two days faster.

What is Direct Deposit?

Direct deposit is the act of sending your paychecks digitally to your bank account rather than receiving a physical check that you have to wait to process or cash. There are numerous benefits of setting up direct deposit, including the fact that you:

  • Can usually waive monthly bank fees by setting up direct deposit
  • Gain access to your money much faster
  • Don’t have to worry about misplacing the physical check and losing your money
  • Can pay bills on-time by scheduling automatic bill payments after a deposit
  • Don’t have to pay (setting up a direct deposit is almost always free)

How Do Banks Process Your Paycheck Early?

How is it even possible that a bank could process your paycheck early? Technically, all banks have the capability of delivering your paycheck to your early instead of holding it for processing. Why don’t they? They make extra money by holding it.


This is called “float,” which refers to the act of a bank double-counting your deposit before they clear the transaction. When they double count those deposits, they earn double the interest. While that might not seem like a lot for your single paycheck over the course of a day or two, when banks do that across every account that’s set up direct deposit, they can earn a pretty penny.

Get Your Paycheck Early From These 5 Banks

Not all banks, especially not online banks, are looking to make money off of your hard-earned cash. Some banks allow you to access your paycheck earlier; sometimes, you can access your money up to two days earlier than at a traditional bank.

1. Axos Bank

5 Best Early Direct Deposit Banks: Get Paid up to 2 Days Early | Cheese Debit Card
Image: Axos Bank

The Axos Bank CashBack Checking Account ranked as one of our favorite online checking accounts of all time due to the 1% cashback offer and online bill pay. However, they’re also one of the only banks that offer an early paycheck feature. To utilize this feature, you’ll need to open an Essential Checking Account, however, which requires a minimum opening balance of $50.

🛠️  Monthly Maintenance Fee: $0

💸  Minimum Opening Balance: $50 for the Essential Checking Account

💲 Early Paycheck: Sign up for direct deposit via the Essential Checking Account features to be eligible to receive your paycheck up to two days earlier

2. GTE Financial

5 Best Early Direct Deposit Banks: Get Paid up to 2 Days Early | Cheese Debit Card
Image: GTE Financial

GTE Financial is a Florida credit union that offers early direct deposit payments as long as you qualify for a membership to their credit union. To qualify, you’ll need to have a family member or employer who is located in the Tampa Bay area; or, you can simply pay $10 to join CU Savers, an organization of sorts that grants you access to financial resources and the credit union’s banking products.

🛠️  Monthly Maintenance Fee: $4.95 (waived if you can make $500 in deposit per month)

💸  Minimum Opening Balance: $0

💲 Early Paycheck: Access early direct deposit of your paycheck two days earlier by paying a $3.00 fee

3. OneUnited Bank

5 Best Early Direct Deposit Banks: Get Paid up to 2 Days Early | Cheese Debit Card
Image: OneUnited Bank

Even though OneUnited Bank is an online bank, they have branches available for residents in California, Florida, and Massachusetts. The bank’s account offerings are diverse, including a “second chance” account for those who need a fresh financial start. The early direct deposit feature is called BankBlack Early Pay. The bank’s mission is also one we support: closing the racial wealth gap.

🛠️  Monthly Maintenance Fee: $0 as long as you set up a direct deposit and make at least 10 monthly transactions

💸  Minimum Opening Balance: $50

💲 Early Paycheck: Simply set up direct deposit to access your paycheck up to two days earlier; no hidden fees or surcharges!

4. Alliant Credit Union

5 Best Early Direct Deposit Banks: Get Paid up to 2 Days Early | Cheese Debit Card
Image: Alliant Credit Union

As a digital credit union, Alliant also provides members with top-notch online banking, an award-winning mobile banking app, plus access to features like (somewhat) early direct deposit. No monthly fees plus up to 0.25% APY on checking accounts make Alliant a pretty attract bank for those interested in getting more for their money. Here’s what to know about their early direct deposit feature.

🛠️  Monthly Maintenance Fee: $0

💸  Minimum Opening Balance: $5

💲 Early Paycheck: After a mobile deposit is made, you’ll be able to access $225 of that on the date of the transfer; the rest of your paycheck will be released before the end of the second business day following the transfer

5. Cheese

Who else offers early access to your direct deposit funds? We do, of course! At Cheese, you can not only enjoy $0 in fees and super savings (like 10% cashback at your favorite stores), but you can also set up direct deposit straight to your account and we’ll give you access to your money up to two days earlier than at a traditional bank. Plus, you’ll still get to reap the benefits of all our great other perks.


❌ No Monthly Fee                                    🧀️ $5 cash bonus    

❌ No ATM Fee                                           🧀️ Up to 10% cashback with every purchase/transaction

❌ No Overdraft Fee                                   🧀️ Potential Double Cheese Cashback

❌ No Insufficient Fund Fee                       🧀️ Up to 3% Saving Bonus

❌ No Minimum Balance Requirement      🧀️ Early Paycheck

❌ No Int. Incoming Wire Transfer Fee      🔐 FDIC Insured


Ready to take control of your financial life? Sign up today for your Cheese Debit Card.


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Cheese 银行卡 美国华人最好的选择