Did you know there's a way you can get your direct deposits, such as payroll, annuity, retirement, and Social Security, up to two days earlier than your actual payday?
With Payday Perqs at Hanscom FCU, your money appears in your account as soon as we get notice from your payer, which is often a few days before your actual payday.
Here's how it works if you're getting direct deposit payments. We'll use your payroll check as an example:
Instead of waiting for the actual payroll funds from your employer, we immediately post the deposit to your account when we receive the files from the Fed. Again, the files can come at different dates/times each pay period, which would affect when we post to your account.
This means that direct deposits will never be pending in your account until your actual payday. You get your money as soon as we know it's coming.
If it takes longer than last time for your direct deposit to appear in your account, it's not because we're holding on to it. It only means that your employer sent payroll files to the Fed later than last time.
If you would like a longer step-by-step explanation of how direct deposit works, here's a good overview from Nacha, the organization that oversees the electronic system connecting financial institutions in the U.S.