Paycheck Chronicles

Navy Federal's Statement Regarding Early Direct Deposit


UPDATE:  Though I have not seen any release explaining this, it seems that NFCU has slightly altered the way that they are applying this policy.  Funds are being released early, but not necessarily on the first day that they show pending in the account.  Funds may still show as pending for several days before they are released.  Please do not try to spend that money while it is pending - I would hate for you to get into banking difficulties because of it.

I have received an answer from Navy Federal Credit Union regarding their new policy of depositing direct deposit funds early for members who have an Active Duty checking account.

For members with an Active Duty Checking Account Effective 23 January, a new feature was implemented for Active Duty Checking accounts. Early posting of direct deposit will enable members to receive certain direct deposits early. Upon receiving the direct deposit from eligible pay offices, funds will be released and made available immediately instead of waiting until the entry date provided. The eligible pay offices are DFAS , US Treasury, II MEF Disbursing, III MEF Disbursing, US Coast Guard-Treasury and US Coast Guard-Academy. Navy Federal does not control when the paying agency submits their files but past experience has shown that they are usually submitted at least one day before the actual "pay day". Please remember that military pay can post on different days because we receive multiple files from DFAS including special pay, active regular pay, reserve duty pay, etc. For Active Duty Checking accounts, as long as the file reaches the Federal Reserve by 1400 ET, funds will post during nightly batch processing (anytime between midnight and 0600 ET).

Posting Cycle for All Other Direct Deposits For all other paying agencies and account types, direct deposits are posted as of the funding date designated by that agency. In the case of most military pay, this date will the 1st or 15th of the month, or the preceding business day if the 1st or 15th falls on a weekend or holiday.

I hope that you find this information helpful. Please do not hesitate to let us know if you have any additional questions.

I find this so unsatisfactory.  Now people will have no idea what day they are getting paid, and I can already imagine families anticipating pay earlier, then receiving it closer to the actual payday, and getting into a bind.   In my opinion, this is a really bad policy and I wish they would change it.  There are going to be times when people get their pay particularly early one pay period, then not so early the next pay period, and it is going to make the long times even longer.  But that is just my opinion.

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