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Paycheck Chronicles

1 May 2012 Military Pay

It is still a while until the next military payday, but the subject has been getting more and more popular the last day or two.  Unfortunately for those who are hoping that payday is coming soon, the next military payday is not until Tuesday, 1 May 2012.  That's still 11 days away!  Most military folks will see their active duty pay hit their bank accounts sometime on Tuesday, 1 May.  However, several military-focused banks and credit unions offer early direct deposit as a courtesy to their customers.

USAA and PMCU disburse military pay deposits one business day early.  For this pay period, that will be on Monday, 30 April 2012.  It can still be any time on that day so please don't panic if it isn't showing at your "usual" time.  There are other banks and credit unions that offer early deposit with various schedules.  If you are not sure, ask!

It is a little more complicated if you have Navy Federal Credit Union because they actually have two different pay distribution schedules depending on what type of checking account you have.  If you have an Active Duty checking, then your pay is released one business day early.  For this pay period it is a little confusing but I *think* that you will see your pay pending on Friday, 27 April to be processed overnight and available for use on Saturday, 28.  This is stated on the Navy Federal Credit Union Military Active Duty Posting CalendarHowever, I'm not positive about this.  Please plan for the worst and assume that you will not have access to your pay until Monday, 30 April.  If you have any other type of checking account, you will see your pay pending on Monday, 30 April to be posted overnight and available for use on Tuesday, 1 May.

This has been one of many long pay periods this year.  The next one is super-long, 19 days, from 13 July to 1 August, and then again over the holidays when it will be 17days from 14 December to 31 December.  Be sure to plan ahead so you don't get stuck!

Thinking that you should have been paid, but don't see your money yet?  Check out Why Hasn't My Pay Been Deposited? for helpful tips.

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