Finding banks that offer early direct deposit, when it comes to your payday, can be a lifesaver. The good news is that many financial institutions offer their customers access to their money early, usually up to 2 days earlier.
While many online banks have early direct deposit, today, more traditional banks are starting to jump on the bandwagon – recognizing how important this is to their customers.
This article will look at the top banks that offer early direct deposits to their customers. Check out the following options and find the best fit for you.
17 Best Banks with Early Direct Deposit
Need to get paid earlier than usual? Here are the best banks that offer early direct deposit:
- Varo
- Albert
- Current
- Revolut
- Chime
- Fifth Third Bank
- Axos Bank
- Capital One
- Dave
- Huntington Bank
- Credit Karma
- GoBank
- LendingClub Banking
- One
- OneUnited Bank
- Porte
- Wealthfront
1. Varo
- Monthly fee: $0
- Minimum balance: $0
Varo is an online bank that promises to work for all. There are no credit checks to open the account, and the bank does away with most fees, including no overdraft fees and no monthly fees.
Direct deposit paychecks arrive up to two days earlier, and Varo-to-Varo transfers are instant. You can also deposit cash at more than 90,000 locations and withdraw money from over 55,000 Allpoint ATMs without paying a fee.
To get started with Varo, all you need to do is download the app available for both Apple and Android devices.
To open the account, you will need to provide some personal information, including your SSN (Social Security Number) and address.
2. Albert
- Monthly Fee: $0 (Genius costs a minimum of $6 per month)
- Minimum Balance: $0
Albert is a game-changing financial app that can help you manage your accounts, balance your savings, and review your investments – all in one place.
While Albert isn’t technically a bank, it is partnered with FDIC-insured institutions like Sutton Bank, Coastal Community Bank, and Wells Fargo to provide financial products.
Albert’s early pay program is different from others on the list. It offers a version of a payday loan in which they will send you up to $250 from your next paycheck. They don’t charge interest, late fees, or credit checks; you just need to repay the loan with your next paycheck.
A unique feature of Albert is its Genius advisor tool. The Genius feature gives you 24/7 access to a team of financial experts who can answer all your money questions and even help you make financial decisions. This is their only paid service, but you pay the amount you believe is fair based on your use.
3. Current
- Monthly fee: $0
- Minimum balance: $0
Current is a financial app that’s squarely aimed at younger millennials. Much of their marketing is centered around social media influencers, and anyone can apply to join the community.
Current recently combined their Basic and Premium accounts, so now all users get early access to direct deposits for no monthly or annual fee.
Aside from the early access to direct deposits, you also get 3 Savings Pods, instant crediting of gas station authorizations, and budgets, which you can set up for each spending category.
This account’s other cool features include fee-free overdrafts, cashback, and fee-free withdrawals from over 55,000 ATMs.
4. Revolut
- Monthly Fee: $0 – $9.99/month, depending on which plan you choose
- Minimum Balance: £0
Revolut is a banking app that is rising in popularity in the UK and Europe and is now available in the United States. Unlike other banking apps, they have four service plans to choose from based on your needs.
Every Revolut service plan includes an early pay feature, allowing you to get access to your paycheck one day early. You can also track wages earned and withdraw up to 50% of your paycheck before payday for a small fee.
Like other financial apps, Revolut is not a bank and partners with Barclay and Lloyds to provide its financial products. It received a challenger bank license from the European Central Bank in late 2018. It has applied for a bank charter in the U.S. but has not been approved yet.
5. Chime
- Monthly fee: $0
- Minimum balance: $0
Chime is a banking app that doesn’t need an introduction, consistently receiving good reviews. Their Chime Spending Account works like a traditional checking account and includes a Visa debit card to boot.
Direct deposits hit accounts up to 2 days earlier, and there are fee-free withdrawals from over 60,000 ATMs.
Other account features include Round-Up – which rounds up transactions to the nearest dollars and saves the difference and Spot Me – a fee-free overdraft that can cover you up to $200.
Chime also offers a Credit Builder account designed for those who want to improve their credit score. You can freely move money from the Spending Account with payments reported to the bureaus to help you improve your score.
6. Fifth Third
- Monthly fee: $5 (can be waived)
- Minimum balance: $0
Fifth Third is a reliable brick-and-mortar bank with a strong presence across the South and the Midwest. They offer a range of financial products, including their Momentum Checking and Momentum Savings accounts.
The Fifth Third Bank Momentum Checking account features no minimum deposit or monthly fee. Like other banks in this list, direct deposits are available up to two days early. However, this account does not earn any interest, and you can face steep overdraft fees – up to $37 charged as much as five times per day.
The Fifth Third Bank Momentum Savings account is less impressive than the checking account. It has a low-interest rate of 0.01%, which won’t earn you much over time. You also must pay a $5 monthly fee, but it can be waived if you have an average monthly balance of at least $500.
Learn more:
7. Axos Bank
- Monthly fee:$0
- Minimum balance: $0
Axos Bank’s Essential Checking account is, as the name suggests, a checking account that covers all of the essentials – and then some.
Aside from getting paid up to 2 days earlier, the account also offers unlimited domestic ATM fee reimbursements. There are no overdraft or NSF (Non-Sufficient Funds) fees, while successful referrals will earn you an excellent $20.
The account also has excellent security features, including biometric 2-step authentication, SSL encryption, account monitoring, and anti-virus protection.
You can easily apply for a new account through their website. The whole process should take less than 15 minutes, and all you need is a valid ID and your SSN (Social Security Number).
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8. Capital One
- Monthly fee: $0
- Minimum balance: $0
Capital One’s 360 Checking Account is an online checking account with all of the features you might need. Unlike other online accounts, you can still get help in person by visiting one of the bank’s branches or cafes.
Of course, the account offers early payday with money hitting the account up to 2 days earlier.
If you find yourself overdrawing your account, Capital One offers several options to help you get coverage, including:
- automatically declining the transaction
- a free transfer from your savings account
- or a next-day grace period
The last option gives you a full business day to transfer the money back before charging you a $35 overdraft fee.
The account also offers fee-free withdrawals from over 70,000 ATMs. Money in the account will also earn interest with the current APY (Annual Percentage Yield) rate currently set at 0.10%
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9. Dave
- Monthly Fee: $0
- Minimum Balance: $0
One of the most challenging aspects of traditional banking is that banks often require credit checks and high minimum opening balances to create an account. Dave is an excellent option for you to consider if you’re looking for an alternative to traditional checking accounts.
Dave doesn’t require minimum credit to open an account and has a $0 minimum opening balance. They are also partnered with LevelCredit, a financial tool to help you build credit.
Dave’s ExtraCash™ account is like Albert’s early pay program, allowing you to borrow money in advance of your paycheck. You will need to create an ExtraCash™ account before requesting an advance. Once your account is set up, you can borrow up to $500 with no late fees.
If you need the money in a hurry, Dave charges express fees ranging from $0.99 to $11.99, depending on how quickly you need your money and which account you send it to. If you’re not in a hurry, you’ll get your money to any account within 1 – 3 business days at no charge.
Learn More:
10. Huntington Bank
- Monthly fee: $0
- Minimum balance: $0
Huntington Bank saw the need to offer early direct deposit to its customers and recently introduced Early Pay as a feature of every one of their checking accounts.
If you are a Huntington Bank checking account holder with direct deposit, you can receive your pay up to 2 days early if they get the employer’s information before the scheduled payment date.
While the Asterisk-Free Checking account offers this service with no monthly fees, the Huntington Perks and Platinum Perks accounts require minimum balances to avoid monthly fees.
Learn more:
11. Credit Karma
- Monthly fee: $0
- Minimum balance: $0
Credit Karma offers something quite different from other accounts – karma. Whenever you’re depositing money into your account or making purchases, you can get a deposit boost or purchase reimbursement. So far, over 150,000 customers have won more than $13 million between them.
Their checking account includes several other features such as early deposits, FDIC insurance up to $5 million, and easy transaction disputes. You also get fee-free withdrawals from the Allpoint network, with over 55,000 ATMs and no overdraft fees.
Credit Karma also offers several other products, including credit cards, loans, and tax-filing solutions for state and federal taxes.
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12. GoBank
- Monthly fee: $8.95
- Minimum balance: $0
GoBank is a brand of Green Dot Corporation – a fintech (financial technology) company that aims to serve the unbanked and underbanked population. Even so, their accounts are open to anyone and are worth considering.
It’s worth mentioning right off the bat that this account comes with a monthly fee of $8.95.
While this is rather steep, you can have the fee waived by signing up for a direct deposit. Then, you will need to make a minimum of $500 in direct deposits per month.
Other notable account features include budgeting tools, mobile check deposits, cash deposits, and ASAP Direct Deposits.
Learn More:
13. LendingClub Banking
- Monthly fee: $0
- Minimum balance: $0
LendingClub started as a P2P (peer-to-peer) lender. In 2020, however, it acquired Radius Bank, and its switched business model to become a fintech company that more closely resembles a bank.
If you’re looking to receive your paycheck early, then the personal Rewards Checking account is the one you want.
The account comes with many features that include early direct deposit, 1% cash back on eligible purchases, and an APY interest rate that ranges between 0.15% and 0.10%, depending on your balance.
LendingClub Banking also offers unlimited ATM fee rebates for any charges levied by the other bank. Lending Club Banking itself does not charge any fees, so you can withdraw from anywhere where their debit card is accepted.
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14. One
- Monthly fee: $0
- Minimum balance: $0
One is a new contender to the fintech market, founded in 2009 in Sacramento, California. Their main aim is to offer a personalized experience that supports customers’ unique lifestyles.
Like other banks and fintech apps in this list, you can receive your paycheck money into your account up to two days earlier.
You can also automate your savings through Auto-Save, which lets you take a maximum of 10% ($1,000) of your paycheck and deposit it in a savings account.
The APY (Annual Percentage Yield) on offer is 1.00% which is higher than the national average. One also offers a credit line with monthly payments of 1% of your paycheck. The APR is 12%.
Learn More:
15. OneUnited Bank
- Monthly fee: from $12
- Minimum balance: $25
OneUnited Bank is an FDIC-insured and black-owned bank. They’ve been open for close to 50 years, named Unity Bank & Trust initially. As more banks joined the mission, they renamed themselves OneUnited Bank.
With a mission of improving neighborhoods and supporting black-owned businesses, OneUnited Bank has a lot to offer.
You can get deposits two days early with the Black Wall Street Checking and U2 E-Checking accounts. The latter account acts as a second-chance checking account.
Both accounts have a minimum opening deposit of $25 and BankBlack 2 Day Early Pay, allowing account holders to receive their pay up to two days earlier. U2 E-Checking account comes with a $12 monthly maintenance fee, while Black Wall Street Checking doesn’t have a monthly service fee.
Other features available with both accounts include a mobile banking app with mobile check deposits, fee-free withdrawals from over 35,000 ATMs, and AutoSave, which lets you automatically save your change.
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16. Porte
- Monthly fee: $0
- Minimum balance: $0
Like many others in this list, Porte is not a bank but a fintech company. They offer banking services through Pathward, including FDIC insurance. The partnership also allows Porte to provide several services that are pretty rare with such apps, including Mobile Check Capture and cash deposits.
Direct deposits can arrive up to 2 days faster with the built-in app alerts letting you know as soon as the money comes into your account. You also get a Visa debit card and cashback rewards from several retailers and brands.
One other feature that’s good to know about is #DoorToChange. Here, you can select a partner charity, and Porte will match a percentage of eligible credit card purchases and donate to the charity.
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17. Wealthfront
- Monthly Fee: $0
- Minimum Balance: $0
Wealthfront is a trusted robo-advisor, but many consumers may not realize they have an impressive cash management account.
Cash management accounts act as a hybrid between a checking and savings account. They are usually offered by non-financial service providers, such as Wealthfront, and are a great way to manage your checking and savings all in one place.
Customers can access their next paycheck up to two days early with the Wealthfront Cash Account. You also have access to over 19,000 fee-free ATMs nationwide and can deposit checks from your phone when you don’t feel like finding an ATM.
The most noteworthy feature of the Wealthfront Cash Account is its high-interest rate. You will earn 2.55% APY on your balance, a whopping 15 times the national average of 0.17%. You’re unlikely to find a better interest rate, so this is certainly a reason to consider banking through Wealthfront.
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Frequently Asked Questions
What banks release direct deposits early?
Several banks, as well as financial apps, release direct deposits early. In the above article, we covered the top banks that release direct payday deposits early. On the other hand, many credit unions are also starting to offer this feature. In most cases, direct deposits are released by the bank up to 2 days early – depending on when they receive the instructions.
Does Bank of America offer early direct deposit?
Bank of America does not offer early direct deposit at this time. However, this does not mean that they never will. With major banks such as Axos and Capital One offering this feature, Bank of America might very well decide to start offering this.
In the meantime, our list of best banks that offer early direct deposit includes many different banks, often with free checking accounts, that let you receive direct deposits early, so be sure to check it out.
What banks release deposits two days early?
An increasingly large number of banks release direct deposits up to 2 days early. It’s essential to keep in mind that it’s up to two days early as this depends on when the bank receives the instructions for the payments.
Does Chase release direct deposits early?
No, Chase does not release direct deposits early. Refer to our comprehensive list of banks that release direct deposits early to understand your options better and make the best choice for you.
Should I start using direct deposit to get my paycheck early?
If you want to transition from paper checks to direct deposits, check whether this option is available with your employer. If so, you will need to supply your bank account number and the corresponding routing number to receive the money. You can quickly get this information from your bank, in most cases even through the mobile app.
