Do I need to opt-in to participate in Early Payday?
Not at all. If you receive your regular paycheck or government benefits through direct deposit, you’ll automatically receive these payments up to two days early with Early Payday.
How does Early Payday work?
- Your employer submits payroll files to the Federal Reserve (Fed) with a specific date to deposit funds to your account (your scheduled payday).
- The Fed generally sends an electronic deposit notification to Advantis 1-2 days ahead of the intended deposit date so that we know the deposit is coming.
- Instead of waiting until your actual payday we make the deposit to your account early, typically 1-2 days beforehand.
For most Friday paydays we receive the alert from the Fed on Wednesday. When this happens, you get to enjoy an early payday.
What time is my direct deposit posted?
The deposit post time depends on your employer or government agency. Unlike traditional banks, Advantis posts the deposit to your account as we receive the files throughout the day.
Will my direct deposits always arrive two days early?
It depends. You might get your direct deposit two days earlier, one day earlier, or on your scheduled payday. Here are some possible reasons you might not receive your deposit early:
- You recently set up direct deposit for the first time.
- Your deposit type is not eligible, such as a bank-to-bank transfer.
- There’s a payroll system issue from your payer.
- We didn’t receive your deposit notification before your scheduled payday. Early direct deposits also depend on timing—your payer must provide payment details early so the deposit can process early. If your deposit information doesn't arrive early, you can expect it to arrive on your regularly scheduled payday.
Will I see any other types of deposits early too (other than my paycheck)?
Yes! Any electronic transfer (ACH) that is sent to a checking, savings, or money market account at Advantis will be eligible to receive the deposit early. Also, if you get your tax refund, Advance Child Tax Credit, Social Security or unemployment through direct deposit, you’ll be eligible to get access to that money earlier as well.
What if I already have direct deposit with Advantis?
If you already have direct deposit set up with your Advantis account, you don’t need to lift a finger. We’ll simply get your money in your account sooner.
Can I choose to stop receiving my direct deposits early?
No, Early Payday is an automatic feature of direct deposits for Advantis checking and savings account, so you can get paid sooner.
Are savings accounts eligible for Early Payday?
Yes. Early Payday is available for all Advantis checking, savings, and money market accounts – all it takes is your direct deposit.
Are loan payments eligible for Early Payday?
No. Early Payday is only available for Advantis checking and savings accounts.
I have a loan with Advantis that is paid with my direct deposit. Will my loan be paid early?
No, because some loans have cycle days where loan payments are made based on your regular payday. This helps avoid issues with how your payment is applied.
Do other banks and credit unions offer early paycheck deposit?
A number of large national banks do offer some form of early deposit. But Advantis is proud to be leading the way among local credit unions to offer this terrific feature. And of course Advantis never charges for the great services our members have come to expect from us.
What if I only have a part of my paycheck coming to Advantis, can I still get my deposit early?
Yes. There are no dollar limits tied to this benefit, so all or part of your paycheck will be eligible for early deposit.
If my paycheck doesn’t arrive early, will I be reimbursed for NSF fees?
No. We are only able to deposit your funds when we are notified that the deposit is on its way. Since the date and time of the deposit notification is determined by when your employer or government agency sends us the file, there is no guarantee of an early deposit or coverage of NSF fees resulting from your funds arriving on your actual payday.