Paycheck Chronicles

Navy Federal Offers Early Direct Deposit for Active Duty Checking


Update 4 February 2011:  I have received a statement from Navy Federal regarding their early direct deposit policies.  Basically, they will release direct deposit of military pay to Active Duty checking accounts on the day that they receive the information from DFAS.  This may occur on different days each month, but it is always by the actual payday.  Not very helpful for planning purposes.  You can read the complete statement at Navy Federal's Statement Regarding Early Direct Deposit.

A reader recently told me that Navy Federal Credit Union (NFCU) is going to offer early release of active duty direct deposit pay funds for customers who have an Active Duty checking account.  I've done a little research and was unable to find great answers, but I did learn a little.

According to the account details page, one of the benefits of an Active Duty checking account is "Early posting of qualifying Military Direct Deposit."  This is a new addition to the lineup of benefits of an already great account.  While I was in my local branch yesterday, there was a commercial on the television monitor talking about this new benefit.  Unfortunately, the monitor was a wide-screen model, and the advertisement was formatted for a regular screen.  As a result, I couldn't read the bottom line that appeared to talk about what "early posting" might mean.   Does it mean as soon as they receive the information from DFAS (as a reader suggested) or does it mean one day early, a la USAA?

Of course, I asked the member services representative.  She was completely unhelpful.  At first, she didn't know what I was asking.  We both sat there, watching the monitor, hoping that the same advertisement would come up again.  Wouldn't you know, it would not come up again.  Eventually, she started searching the internet and basically reading off the information on the account details page.  After I refused to be happy with that answer, she stated that rather than showing as Pending for a few days, the deposit would be available on midnight of the night that it showed up as pending.  I then asked if that meant that basically everyone would get their pay three to five days early (that is when mine usually shows up as pending.)   She then decided that couldn't be correct and emailed her supervisor (in the next office over.)

While we waited for a response from her supervisor, we continued to watch the monitor and the same advertisement never appeared.  I was starting to give up hope of ever getting a straight answer when she got a return email from her supervisor stating that direct deposits of active duty military pay would be available one day early.

I still wasn't completely satisfied that this was a correct response, so I sent a message to NFCU via my account yesterday.  I haven't yet gotten an answer but I will let you know when I do.  In the meantime, I do not have a deposit or a pending deposit in my account.  I don't think this means much as that would be ridiculously early for a Tuesday payday.  However, one reader is reporting that she has already seen the deposit of her husband's pay.  I don't have details, so I don't know if it is definitely for sure his January end-of-month pay, but it is an interesting development.

I will update as I learn more, but for now, I won't be surprised by whatever might happen with this pay.

UPDATE:  It is 4 pm on Thursday, January 27, and my account now states that my husband's pay is pending deposit today.   This is crazy.  I already have bjillions of readers who have no idea when payday is, and now they will be even more confused.

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