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Did you know that there are bank accounts that allow early direct deposit?
Are you looking to get your tax refund or direct deposit early? Several newer banks and FinTech companies are now offering early paycheck and direct deposit services - where you can get your paycheck, government check (like a tax refund or stimulus check), or other ACH payments credited to your account up to two days early.
For some people, this service can be a game-changer: letting you avoid costly paycheck advances or other services to get paid early. But remember - it's always "up-to-two days early" - which means it doesn't always work and it's based on the funding of the payer, as well as your banking history.
We've checked out countless banking services to find you the best ones that offer early direct deposit. Here's the best options for you.
Best Early Direct Deposit Accounts
1. Discover® Cashback Debit
2. GO2bank
3. CashApp
4. Current
5. MPH Bank
6. Chime®
7. Varo
8. Spruce
The Best Accounts With Early Direct Deposit
1. Discover® Cashback Debit
Discover offers the Cashback Debit Checking Account. This checking account allows you to earn up to 1% cash back on up to $3,000 in debit card purchases every month. See website for details.
Plus, this account has no fees or minimum balance requirements - including free-free overdraft protection! And, you can get your paycheck or tax refund up to two days early with no charge!
They are very mobile friendly, have access to over 60,000 free ATMs, and even have no-fee check ordering. Read our full Discover bank review here.
Why I Like It: Cashback debit on a free checking account.
Learn more about Discover Cashback Debit here.
Discover Cashback Debit | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $0 |
Rewards | 1% cashback on up to $3,000 in purchases per month |
ATM Access | 60,000 Fee-Free ATMs Nationwide |
Availability | Nationwide |
Promotions | None |
OPEN AN ACCOUNT
2. GO2bank
GO2bank is a mobile bank that is working to take mobile banking to the next level. What we love about GO2bank is that they are really helping people access banking who may have never had a bank account before. GO2bank was created by Green Dot Corp, which many people may already be familiar with.
This account has a $5 monthly fee, but it's easily waived if you receive an eligible direct deposit payment during the previous monthly statement period.
Plus, the perks are amazing. You can currently earn 4.50% APY (Annual Percentage Yield) on up to $5,000 in your savings account, paid quarterly². You can also earn up to 7% cash back when you purchase eGift Cards from the nearly 100 popular merchants in the GO2bank mobile app as well as 3% cash back on Amazon eGift Cards bought in the app³.
Plus, they offer up to $200 in overdraft protection with opt-in and eligible direct deposit⁴.
Read our full GO2bank review here.
Why I Like It: A savings account that earns interest combined with a deposit account that has amazing overdraft protection.
Learn more about GO2bank here.
⚠︎ This Is A Banking Service Provider, Not A Bank.
GO2bank is a financial technology company, not a bank. While it uses partner banks to provide banking services, your FDIC-insurance protection may be limited. Read this article from the FDIC to understand the risks of using a non-bank company.
GO2bank | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $5 (Waived with Qualifying Direct Deposit) |
Earns Interest | Up to 4.50% APY |
ATM Access | 19,000 Fee-Free ATMs |
Availability | Online Nationwide |
Promotions | None |
OPEN AN ACCOUNT
3. CashApp
A lot of people only think about CashApp as a money transfer platform, but over the last few years it has evolved into a full service banking product, with accounts, and even tax prep!
Cash App offers a free checking account that has a Visa debit card. It doesn't charge monthly fees, inactivity fees, or foreign transaction fees.
If you use Cash App Taxes to file your tax return, and elect to have your tax refund deposited to your Cash App account, you can get your tax refund up to 6 days early!
Check out our Cash App Banking Review here.
Why I Like It: Free banking, money transfers, investing, and even taxes!
Learn more about Cash App Banking here.
⚠︎ This Is A Banking Service Provider, Not A Bank.
Cash App is a financial technology company, not a bank. While it uses partner banks to provide banking services, your FDIC-insurance protection may be limited. Read this article from the FDIC to understand the risks of using a non-bank company.
Current | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $0 |
Earns Interest | No |
ATM Access | 3 ATM Refunds per Month |
Availability | Nationwide |
Promotions | None |
OPEN AN ACCOUNT
4. Current
Current is a leading mobile banking app that has been endorsed by a huge range of personalities, including YouTuber Mr. Beast. It makes banking convenient and easy - it's that simple.
Current offers a free checking account that you should consider. It has no minimum balance requirements, no overdraft fees, fee-free ATM withdrawals at over 40,000 ATMs, and up to 15x points for cash back!
And, of course, you can get your direct deposit up to two days early.
Check out our Current Review here.
Why I Like It: Free mobile banking.
Learn more about Current Free Checking here.
⚠︎ This Is A Banking Service Provider, Not A Bank.
Current is a financial technology company, not a bank. While it uses partner banks to provide banking services, your FDIC-insurance protection may be limited. Read this article from the FDIC to understand the risks of using a non-bank company.
Current | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $0 |
Earns Interest | Up To 4.00% APY |
ATM Access | 40,000 Fee-Free ATMs |
Availability | Nationwide |
Promotions | None |
OPEN AN ACCOUNT
5. MPH Bank
MPH Bank stands for Make People Happy - and that's what it does with its Free Account. They don't hide their account types behind marketing - they offer a free checking account with no monthly maintenance fees, no overdraft fees, and more.
And, of course, you can get your direct deposit up to two days early.
Check out our MPH Bank Review here.
Why I Like It: Free mobile banking from a bank that consistently has great interest rates.
Learn more about MPH Bank Free Account here.
MPH Bank Free Account | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $0 |
Earns Interest | No |
ATM Access | 55,000 Fee-Free ATMs |
Availability | Nationwide |
Promotions | None |
OPEN AN ACCOUNT
6. Chime®
Chime® was one of the original free mobile banking apps that revolutionized mobile banking. They started with a mobile-first mindset, and also wanted to keep fees as low as possible.
As such, they have a top notching free checking account if you're okay with a mobile only platform. Chime® has no physical locations, and all of their banking is done online - in the app.
They have some amazing features, including being able to receive qualifying direct deposits up to two days early!
Check out our Chime® Review here.
Why I Like It: Free mobile banking with great features.
Learn more about Chime® here.
⚠︎ This Is A Banking Service Provider, Not A Bank.
Chime is a financial technology company, not a bank. While it uses partner banks to provide banking services, your FDIC-insurance protection may be limited. Read this article from the FDIC to understand the risks of using a non-bank company.
Chime® | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $0 |
Earns Interest | 2.00% APY¹ |
ATM Access | 60,000 ATMs Nationwide |
Availability | Nationwide |
Promotions | None |
OPEN AN ACCOUNT
7. Varo
Varo is a modern app and online bank that is delivering awesome free checking with interest.
Varo has no minimum balance requirements, no monthly fees, and earns interest! And you can get your paycheck direct deposit up to two days early⁵.
It includes a debit card and a solid mobile app experience!
Read our full Varo review here.
Why I Like It: A free checking account that can be combined that earns interest.
Learn more about Varo.
Varo | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $0 |
Earns Interest | Up To 5.00% APY |
ATM Access | 55,000 Fee-Free ATMs |
Availability | Nationwide |
Promotions | None |
OPEN AN ACCOUNT
8. Spruce
Spruce is a free banking app from the makers of H&R Block. Spruce offers straightforward money management tools and simple banking. The banking services are provided by Pathward, a federally-chartered bank.
What's great about Spruce is that it can provide you with your direct deposit or tax refund up to 2 days early. Plus, since they're owned by H&R Block, they also have great promotions when you use Spruce and H&R Block together.
And, of course, it has no monthly maintenance fees, no overdraft or non-sufficient fund fees, and you can get your direct deposit early!
Read our full Spruce review here.
Why I Like It: Free direct deposit from the makers of H&R Block.
Learn more about Spruce here.
⚠︎ This Is A Banking Service Provider, Not A Bank.
Spruce is a financial technology company, not a bank. While it uses partner banks to provide banking services, your FDIC-insurance protection may be limited. Read this article from the FDIC to understand the risks of using a non-bank company.
Spruce | |
|---|---|
Min Opening Deposit | $0 |
Min Balance Requirement | $0 |
Monthly Fee | $0 |
Earns Interest | 3.50% APY |
ATM Access | 91,000 Fee-Free ATMs |
Availability | Online Nationwide |
Promotions | None |
OPEN AN ACCOUNT
How Early Direct Deposit Work?
Early direct deposit is a service offered by some banks to credit your account in advance of a known deposit posting. Depending on where the payment comes from (such as a payroll company or the government), direct deposits may be sent via ACH to your bank account up to two days early along with a designated posting date.
Most traditional banks hold these funds until the paycheck posting date while actually earning a small amount of interest on those funds. However, many newer banks and financial services companies will simply post these funds to your account immediately, because "you're good for it".
Some companies also use technology from services like Plaid to analyze your account and see regular direct deposits, in which case they may "credit" your balance early if you're a trustworthy customer.
What Payments Qualify For Early Deposit?
The most common type of payments that qualify are payroll payments, as many large payroll providers use a similar system of notifying your bank of an incoming payment. For example, if you get paid on a Friday, your bank may receive notification (and even funds) as early as Wednesday.
Another common payment that qualifies are government payments. These could be tax refunds, stimulus checks, disability payments, and more. Since the government also uses a similar system of notifying banks when posting a payment (and the government is a trustworthy payer), these banks will post your payment early to your account.
Finally, other ACH payments may qualify, but this varies from payer to payer and bank to bank.
How Do These Accounts Compare To Other Checking Accounts
The accounts listed above are all extremely similar to other checking accounts - they are FDIC insured, they offer spending and debit cards, and all offer some form of online banking. Plus - almost all of them have no monthly fees (which is awesome).
The key difference is that all of these companies advertise offering direct deposit up to two days early - which can be a huge benefit for some individuals. Unlike "traditional" banks where you may be able to see the pending deposit but not access it, these banks and FinTech companies will actually post your direct deposit or ACH payment to your balance so you can use your money right away.
This can be huge if you're waiting for a tax refund or are considering other types of cash advance tools (which may have a fee or charge you interest).
Why Should You Trust Us?
The College Investor has been testing and reviewing checking accounts for over 10 years. I personally have been actively writing about banking products and the need for free checking since 2009.
In creating this guide, we've looked at our extensive list of bank reviews, our knowledge of the banking industry, and compared at least 50 of the top banks in the United States to see which free checking accounts are the best for consumers.
Furthermore, our compliance team checks the accuracy of any rates on this list every weekday, to ensure that you're getting the most accurate information we can create.
Common Questions
Here are some common questions we see about early direct deposit (i.e. getting your paycheck or tax refund up to two days early):
What is early Direct Deposit?
Early direct deposit is a program offered by some banks and FinTech companies to credit incoming direct deposit and ACH payments to your account immediately, versus the date they were supposed to be delivered (which could be up to two days early).
How can banks post a direct deposit early to your account?
Many large payroll providers and the government alert banks to incoming ACH payments. Many traditional banks will hold this payment until the date requested, but the banks on this list will release the funds to your account immediately, depending on the payer and your banking history.
What types of payments are allowed to be credited early?
The most common payments that can be posted early include payroll deposits, tax refunds, disability payments, and stimulus checks.
Is early direct deposit available at every bank?
No. This is a service offered by a select few banks and financial services firms.
Is there a cost for this service?
No. There is no additional cost for this service, but some of the banks offering it may charge a monthly fee.
Who Is This For And Final Thoughts
These checking accounts that offer early direct deposit (and are honestly solid free-checking accounts anyway) can be a great tool for people looking to improve their financial situation. Not having to wait a few days for a paycheck or tax refund can make a big difference, especially near the end of the month.
With that in mind, you might find other articles in our checking account comparisons helpful:
- Best Free Checking Accounts
- Best High-Yield Checking Accounts
- Best Nationwide Credit Unions
- Best College Student Checking Accounts
- Best Military Checking Accounts
- Best Starter Checking Accounts For Students And Kids
Methodology
The College Investor is dedicated to helping you make informed decisions around complex financial topics like finding the best checking account that offers key features like early direct deposit. We do this by providing unbiased reviews of the top banks and checking accounts for our readers, and then we aggregate those choices into this list.
We have picked accounts based on our opinions of whether they meet qualifying uses, how easy they are to use, their costs and fees, any interest rates and bonuses provided, and a variety of other factors. We believe that our list accurately reflects the best checking accounts for early direct deposit in the marketplace for consumers.
Disclaimers
Chime
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
¹ The Annual Percentage Yield (“APY”) is variable and may change at any time. The disclosed APY is accurate as of January 22, 2025. No minimum balance required. Must have $0.01 in savings to earn interest.
GO2bank
² 4.50% APY as of 1/5/2025 and may change anytime. Interest is paid quarterly on the average daily balance up to a $5,000 balance.
³ Active GO2bank account required to receive an eGift Card. eGift Card merchants subject to change.
⁴ Opt-in required. $15 fee may apply to each eligible purchase transaction that brings your account negative. Balance must be brought to at least $0 within 24 hours of authorization of the first transaction that overdraws your account to avoid the fee. Overdrafts paid at our discretion, and we do not guarantee that we will authorize and pay any transaction. See Deposit Account Agreement at GO2bank.com for more details.
Varo
⁵ Early access to direct deposit funds depends on the timing of the payer’s submission of deposits. Varo generally posts such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date.
⁶ Direct Deposit and earlier availability of funds is subject to payer's support of the feature and timing of payer's funding
Editor: Clint Proctor
Reviewed by: Claire Tak
The post Best Bank Accounts For Early Direct Deposit appeared first on The College Investor.
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