Paycheck Chronicles

15 July 2013 Military Pay

Monday paydays are complicated, because so many banks and credit unions offer early direct deposit as a benefit for their customers.  The next regular, active duty military payday is Monday, 15 July 2013, but the day that you have your pay deposited will depend on your bank and your account.

While quite a few military oriented banks and credit unions offer early direct deposit, not all do.  Therefore, some service members will be paid as early as Wednesday and others will not be paid until the actual payday on Monday, 15 July 2013.  Keep in mind that even if your financial institution often pays early, they may not guarantee it.  Don't get into trouble by assuming that your deposit will be there before Monday.

Most banks that offer military pay deposits "one business day early" will post deposits on Friday, 12 July  2013.  This includes USAA and Pacific Marine Credit Union (PMCU).

Service Credit Union offers direct deposit of military pay "up to two business days early," pending the receipt of information from the Defense Finance and Accounting Service (DFAS).  Service Credit Union does not guarantee that their deposits will be made early.  It is true that last few Monday paydays have seen Service Credit Union making deposits on the preceding Thursday.  Again, though, don't make big financial decisions based on the certainty of being paid on Thursday.

Navy Federal Credit Union is a bit tricky.  Not only do they have two different deposit dates, based upon your account type, but they also post deposits overnight.  If you bank with NFCU, your pay deposit date depends on the type of checking account you use for your direct deposit.  Customers who use an Active Duty checking account for their direct deposit will see their pay pending on Thursday, 11 July 2013, to be posted overnight and available for use on Friday, 12 July 2013.  Customers who use any other type of checking account for their direct deposit will see their pay pending on Friday, 12 July 2013, to be posted overnight and available for use on Saturday, 13 July 2013.

Have questions about the pay time?  Pay can be posted at any time during the day.   See What Time Will I Get Paid?  for more information.

Think perhaps your pay has gone missing?  See Why Hasn’t My Pay Been Deposited? for more information.

Future Planning Note:  1 August is on a Thursday, if you are paid early for Monday paydays, the second half of July will be a long pay period for you.  Don't get caught without a plan.

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