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    What Time Does Direct Deposit Hit? Direct Deposit Times at Major Banks

    What time does direct deposit hit major banks in the U.S.? Here's what you need to know about direct deposit times and what you can expect.



    What Time Does Direct Deposit Hit? Direct Deposit Times at Major Banks

    By Scott Jeffries

    December 17, 2021

    About Direct Deposit Direct Deposit Times Benefits Major Banks Direct Deposit Times


    Direct deposit was an added perk offered by banks back in the day, but it has become a default option for most users. However, the feature’s ubiquity doesn’t automatically mean that everyone knows about precise direct deposit times.

    So it’s good to know: what time does direct deposit hit at your bank? In short, you can expect a direct deposit to arrive in your bank account between 12 a.m. and 6 a.m. on the day your employer sends them out.

    What Is Direct Deposit?

    Previously, payees had to go to the bank to cash their paycheck. However, with direct deposit, the payer can now initiate an electronic payment that’s readily deposited into the receiver’s bank account.

    While paper check deposits took anywhere from two to five days for clearance, direct deposit is just as it sounds–direct. The payee does not have to wait for a long time to receive their payment.

    To set up direct deposit, you will have to fill out a form given to you by an employer or the government. You’ll need to fill in your name, your address, your account number and your bank’s name and routing number.

    A Better Way to Bank

    What Time Does Direct Deposit Hit?

    Direct deposits are meant to be instantaneous, which means you get paid on the same day as the payer sends the money. However, the time frame for receiving this money depends on who sends the money and from where.

    For example, your employer has a system that ensures every employee gets paid as per the payroll schedule. In this case, you can expect the direct deposit to hit at midnight on payday.

    With direct deposit, you’ll be paid for the month even before walking into work the next day.

    Keep In Mind

    Meanwhile, 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.

    As for other sources of direct deposit, the amount arrives in your bank account within one business day or the same day. More importantly, direct deposits are not generally held by the bank. Thus, you can use your money as soon as it comes to your account.

    A Better Way to Bank

    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 deposit:

    Quicker Access: You can get your money much sooner than paper check deposits. Plus, there are no bank holds on the sum, allowing you to use the cash the same day.Less Travel: Since the transfer is made electronically, you do not have to travel to the bank to get the check cashed. Once the money is transferred to your account, you get the notification.Heightened Safety: It’s easy to lose a paper check, and that can become quite a nuisance, especially if it’s your paycheck. On the other hand, direct deposits are safe and insured up to $250,000 by the FDIC.Automated Savings: Since many banks let you split your direct deposit, you can choose to transfer some amount to a checking account while the rest goes to a savings account. This way, you can increase your savings over time without having to think about it.

    Direct Deposit Times for Major Banks

    Here’s a table showing the direct deposit times for major banks in the U.S.:


    Axos Bank Up to two days early

    Bank of America Same day

    BB&T Between 12 a.m. and 6 a.m. (EST)

    BBVA Same business day

    BECU Between 12 a.m. and 2 a.m. (PST)

    Capital One No later than 9 a.m. (EST)

    Chase By 6:30 a.m. (EST)

    Citibank Between 12 a.m. and 7 a.m.

    Citizens Bank Between 3 a.m. and 6 a.m. (EST)

    Fidelity Bank Between 12 a.m. and 7 a.m. (EST)

    PenFed Credit Union Between 7:30 a.m. and 8:30 a.m. (EST)

    TD Bank 6 a.m. on payday

    SunTrust Bank Between 12 a.m. and 7 a.m. (EST)

    U.S. Bank 8 a.m. (PST) on payday

    USAA Up to one day early

    Wells Fargo 6:30 a.m. (EST) on payday

    Woodforest National Bank Same day if your employer/sender has deposited the money before 8 p.m. (CST)

    A Better Way to Bank

    In most cases, you can start using the money on the same day that it’s deposited into your account. But sometimes, the fund may only become available after one business day.

    Good To Know

    If you want to receive your paycheck early, get a checking account in a digital bank since they offer early direct deposits. An example is Axos Bank. The bank lets you access your paycheck up to two days early. Likewise, USAA gives you access to your money up to one day early.

    Information is accurate as of Dec. 17, 2021.

    Editorial Note: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.

    Source : www.gobankingrates.com

    Source : chromewebdata

    Direct Deposit Times For Popular Banks (Wells Fargo, BofA, Chase, Suntrust)

    Wondering what time does direct deposit hit? Direct deposit times for most commercial banks occur between 12:00 AM and 6:30 AM.

    Direct Deposit Times For Popular Banks (Wells Fargo, BofA, Chase, Suntrust)

    Written by BG Vancein Banking,Personal FinanceLast Updated February 8, 2022

    This post may contain affiliate links to products that I recommend and I may earn money or products from companies mentioned in this post. Please check out my disclosure page for more details.

    A lot of people wonder about direct deposit times and what time does direct deposit hit at major banks.  This is understandable right now in the economy because people need to know when they will be paid. It’s true that the future of money is changing, however people still need to know the time checks are deposited into their bank account.

    For somebody starting a new job somewhere, this is probably the biggest question they may ask when becoming a new employee of a company somewhere.

    Knowing what time direct deposit goes through can save a person a lot of financial health stress for someone who is living paycheck to paycheck.

    If you are a student and wondering how to save money as a high school student, direct deposit times play a role into your savings.

    Direct deposit hits at most commercial banks and credit untions between 12:00 AM and 6:00 AM.

    However, there are some specific direct deposit times based on the type of bank and also employer.  I have put together a direct deposit times list for some of the largest commercial banks and also large employers including the federal government down below.

    Learning about bank deposit times will help you know what time money is available in your account.

    What is Direct Deposit?

    Direct deposit is being paid electronically from one bank account to another instead of by a paper check.  Most employers require their employees to be signed up for direct deposit because it saves the companies a lot of money on payroll processing.

    Your employer’s bank and your bank where your account is located transfer money through the Automated Clearing House Network to make the electronic transfer of money.

    According to the National Automated Clearing House Association, each year it moves

    more than 41 trillion and 24 billion electronic financial transactions.

    National Automated Clearing House Association

    Advantages of Direct Deposit

    Direct deposits offers a lot of advantages for employees and employers.

    For employees, they don’t have to wait for a paper check to be mailed or handed out at work, especially if that employees is sick. If you don’t have an account, you will have to decide on a checking vs. savings account to see which is right for you.

    Additionally, since employers are using ACH transfers, there are certain regulations and agreements regarding what time direct deposits go through and post to an account.

    Another advantage for employees is they also have a calendar from their employer with direct deposit times stating what time their direct deposits will go through.

    Some of the advantages of direct deposits for employers would be that they no longer have to purchase check paper and physically produce a check.

    There is a tremendous time savings by employers using ACH transfers as well.

    Once the direct deposit goes through and posts to your account, you have access to that money. You will have to set up an account in order for direct deposit. If you have bad banking history, there are banks that don’t use Chexsystems that offer checking and savings accounts for direct deposit.

    Related Article:  Instant Online Check Cashing: Best Apps & Services

    What Time Does Direct Deposits Go Through?

    The time frame for electronic deposits depends a lot on the agreement with your bank.  It also depends on the agreement with your bank and the Automated Clearing House.

    If you are using starter checks, the money still won’t be available until the bank updates their accounts.

    There are a lot of different factors that affect the time the deposit goes through.

    For example, the ACH requires that banks post their deposits within two days.  Some transactions are required to post within a day. If you are depositing third party checks times could be affected as well.

    However, there can be delays sometimes on the part of the banks.

    The main reason for this is because of the bank’s reserve obligation.  Banks have to make sure they have enough reserves on hand to cover the deposits of its account holders.

    A bank’s reserve doesn’t have to be 100%, but there is a reserve ratio that banks do have to meet.

    This situation won’t be common for small $1000 deposits, but rather for larger multi-million dollar deposits.

    When a significant deposit is made such as $2,000,000, a bank has to make sure that the bank has enough cash on hand to meet the bank reserve ratio.

    With larger deposits, comes more money necessary from the bank to meet its reserve.

    What Time Does Direct Deposit Post For Payroll

    However, from an employer standpoint, all payroll has to be sent electronically to the federal reserve system.  For payroll, employers have to be sure they submit the payroll on the right day.

    Source : bucksandcents.com

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