Best Banks with Early Direct Deposit [2024]: Get Paid Sooner

Early direct deposit is offered at some banks and allows you to access your direct deposits up to two days earlier than usual. So, if you’re paid every other Friday, you may see your paycheck available the Wednesday before your payday, which could be helpful if you need to get groceries or have a bill due.

While this feature isn’t universally available yet, plenty of banks have started offering early direct deposit for paychecks and government benefits as a way to entice new customers. Some of these banks also offer other perks like cash back, interest earnings, no fees, and more.

Check out this list of banks with early direct deposit to see which ones offer the best features and whether your bank makes the list.

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How we evaluate products

When choosing the best banks with early deposits, we started with a list of many different banks that offer this feature. From there, we compared the banks’ other features and characteristics, both positive and negative. On the positive end, we looked for things like interest earnings, cash back, fee-free overdraft protection, and a large ATM network.

On the negative side, we specifically avoided banks with monthly fees, high opening deposits, and ongoing monthly balance requirements.

Ultimately, our goal was to provide a list of the best banks with early direct deposit based on their other characteristics. We also specifically looked for banks that had something to set them apart from the crowd, such as Ally with its buckets or Current with its credit-building features.

Banks that help you get paid early

• Discover
• SoFi®
• Capital One
• Ally Bank
• LendingClub Bank
• Varo Bank
• Current

Compare banks with early direct deposit

Bank	Minimum balance	APY	Direct deposit estimate
Discover	$0	1.00% on up to $3,000 in debit card purchases each month1	Up to 2 days early
SoFi®	$0	Up to 4.20% with direct deposit2	Up to 2 days early3
Capital One	$0	0.10% (as of 10/28/24) on checking accounts	Up to 2 days early
Ally	$0	0.25% (as of 10/28/24)	Up to 2 days early
LendingClub Bank	$0	Up to 0.15% (as of May 9, 2023) on balances between $2,500 and $99,999	Up to 2 days early
Varo	$0	None on checking accounts	Up to 2 days early4
Current	$0	Up to a 4.00% (as of Nov. 21, 2023) bonus5	Up to 2 days early6

Discover

• Minimum balance: $0
• Monthly fee: $0
• APY: 1.00% back on up to $3,000 in debit card purchases each month

With Discover’s Cashback Debit account, you can get your paycheck up to two days early when you set up direct deposit with no other strings attached. This checking account, which has no fees or account minimums, combines the perks of a debit card with a cash back credit card. You’ll get 1.00% cash back on up to $3,000 in debit card purchases every month.⁷ That’s potential earnings of $30 per month and up to $360 per year.

I personally use a credit card for the vast majority of my spending to get points or cash back. But for the odd purchase that I have to make on my debit card, it would be nice to still have the opportunity to get a bit of cash back, even if it’s not much.

Discover has one of the largest ATM networks on our list, with more than 60,000 fee-free ATMs nationwide. The account also offers overdraft services with no fees as long as you have a linked Discover savings or money market account.

Visit Discover | Read our Discover review.

SoFi®

• Minimum balance: $0
• Monthly fee: $0
• APY: Up to 4.20% with direct deposit²⁸

SoFi is a great choice for early direct deposit if you also want to earn some interest on your money. You’ll get your direct deposits two days early when you sign up³. And just like a savings account would, SoFi’s checking account pays you a small amount of interest on your funds.

In addition to not having any monthly service fees or minimums and offering fee-free overdraft protection, SoFi has some other cool perks.⁹¹⁰ It offers an automatic round-up of your debit card purchases and then transfers the money into your savings Vault — out of sight, out of mind.

Visit SoFi® | Read our SoFi Checking and Savings review.

Capital One

• Minimum balance: $0
• Monthly fee: $0
• APY: 0.10% (as of 10/28/24) on checking accounts

Capital One is the most accessible bank of any on our list. In addition to having an impressive ATM network of more than 70,000 fee-free ATMs, it also has some physical branches you can visit. While they aren’t available everywhere, Capital One could be a good option if you live near one since in-person banking can still be convenient.

To participate in Capital One’s early direct deposit, you’ll enroll in direct deposit using a prefilled direct deposit form in the app, filling out a blank form provided on the Capital One website, or via your employer’s system. Once you enroll, you’ll get your direct deposits two days early.

Capital One pays a small amount of interest on its account — 0.10% (as of 10/28/24) at the time of writing this. While it’s not much, I personally have a Capital One checking account and enjoy seeing an extra bit of money deposited each month.

Visit Capital One.

Ally Bank

• Minimum balance: $0
• Monthly fee: $0
• APY: 0.25% (as of 10/28/24)

Ally Bank makes it easy to get early direct deposit — you just have to open your account and have direct deposit each month. One feature I love about Ally’s account is its buckets feature, which allows you to organize your money into different virtual buckets, each earmarked for a specific purpose, such as rent or food.

While I don’t use Ally’s checking account, I do have an Ally savings account, and the buckets feature has been a game changer in keeping my money organized.

Ally Bank has no monthly fees or minimums, and you can get overdraft protection of either $100 or $250 — it increases to $250 after qualifying direct deposits for two months in a row.

Visit Ally | Read our Ally review.

LendingClub Bank

• Minimum balance: $0
• Monthly fee: $0
• APY: Up to 0.15% (as of May 9, 2023) on balances between $2,500 and $99,999

LendingClub Bank is primarily a loan provider, but it also offers personal and business banking services. Its Rewards Checking account has early direct deposit, no minimum balance (though you’ll need at least $25 to open the account) or transaction requirements, and no monthly maintenance or overdraft fees.

LendingClub is the only bank we looked at that offers both interest and cash back. You’ll earn 1% cash back on your spending — that’s as high as Discover’s but with no monthly limits. You’ll also earn up to a 0.15% (as of May 9, 2023) APY on your funds, depending on your balance, but only if you have at least $2,500 in your account.

LendingClub’s early direct deposit is easy to set up, and you can get your paychecks two days early. Another thing I love about this account is that, in addition to having a decent ATM network, LendingClub reimburses all other ATM fees, which no other bank on this list does.

Visit LendingClub Bank | Read our LendingClub Bank review for more information.

Varo

• Minimum balance: $0
• Monthly fee: $0
• APY: None on checking

Varo is an online-only bank that provides checking and savings accounts. In addition to its early direct deposit, one feature that sets Varo apart is its cash advances. If you’re a Varo customer, you can get a cash advance between $250 and $500 for a small fee. Then, you’ll pay it back within the next 30 days.

Another perk of Varo’s checking account is you can earn up to 6% on your spending. No, you won’t earn that much across the board. But you can earn cash back when you spend with any of Varo’s partners. The money automatically goes right back into your checking account. Participating retailers include McDonald’s, Macy’s, Kohls, Popeye’s, Circle K, Petsmart, and more.

Visit Varo | Read our Varo review to learn more.

Current

• Minimum balance: $0
• Monthly fee: $0¹¹
• APY: Up to a 4.00% (as of Nov. 21, 2023) bonus⁵

In addition to its early direct deposit, Current also offers some other unique perks, one of which is its credit-building capabilities.¹²⁶ The card you get with your account works as both a debit and credit card. You can use it for spending and ATM withdrawals, just like a debit card. But you can also earn points on it and use it to build your credit score, like a credit card.

Here’s how it works: you spend money on your Build Card, which comes with your account. The money from your purchases and ATM withdrawals is set aside and then used to make payments, just like a credit card. Those payments are then reported to TransUnion.

A Current Spend account also offers seven times the points for purchases at qualifying businesses. There are currently more than 14,000 participating merchants.

Visit Current | Read our full review of Current to learn more.

Choosing a bank for early direct deposit

There are many options for choosing the best checking account with early direct deposit. To help narrow your choices, consider the following before signing up with any bank.

FDIC insured: The Federal Deposit Insurance Corporation (FDIC) protects the money you deposit in a bank up to $250,000 per depositor. Looking for the Member FDIC symbol on a bank’s website or account materials can be an excellent way to determine if the bank is legitimate and to know that your money is protected if the bank collapses.

What qualifies for early direct deposit? Do Social Security payments and tax refunds count for early pay, or is it only employer paychecks? Make sure the ways you get paid meet the qualifications for early access. Additionally, check if there’s anything required on your end, such as opting in or having a certain minimum balance.

Low (or no) fees: Some banks charge monthly service fees, which can eat into your available cash each month. Many banks offer low- or no-fee accounts if you meet specific requirements like setting up monthly direct deposit or maintaining a certain balance in the account at all times.

Before signing up with a bank, read the fee disclosure statement and terms and conditions so you understand what you may be responsible for.

High-interest rates: While you probably won't find interest rates on checking accounts that compete with high-yield savings accounts, searching for a bank that pays interest on its checking account can help you earn as much as possible from your paycheck. You may need to decide between a low- or no-fee checking account and earning interest, but finding both features is possible, especially if you are comfortable with an online-only bank.

Cash back rewards: Some banks offer cash back on our purchases, similar to how you’d earn cash back on a credit card. While most banks we explored don’t offer this feature, there are a select few that do, and their cash back rates are actually competitive with many credit cards. You won’t get rich from this feature, but it’s a nice way to earn a bit of extra cash for purchases you’re already making.

How do you like to bank? Online-only banks typically have lower costs than brick-and-mortar banks, so you’re more likely to find healthy interest rates and lower fees. They might also have additional account perks like rewards cards, ATM fee reimbursement, overdraft protection features, and interest-earning checking accounts.

Some people prefer a more traditional bank, with physical branches you can visit. While you may find many of the account features you want at a conventional bank, you may also find lower interest rates. Decide which features are most important to you, and look for a bank that fits your needs.

What other features does the bank offer? Banks often offer introductory rewards, account management tools, or cash-back options to entice you to bank with them. As you research banks, a good initial rate or other features might be the deciding factor in deciding on one bank over another.

Consider a credit union: Credit unions often have more competitive rates and lower fees. They also usually have physical branches that customers can visit, making them a good solution for people looking for a brick-and-mortar bank with more options. Any credit union you consider should be insured by the National Credit Union Association (NCUA), the equivalent of a bank’s FDIC insurance, and provides coverage up to $250,000 per single ownership account.

Check customer service reviews: As part of your research, pay attention to customer service reviews and ratings. Reviews can give you insight into the bank’s customer service approach and how they solve problems. If you use a bank’s mobile app, read reviews to learn about frequent glitches or issues.

FAQs

Banks that didn’t make our list

While early direct deposit isn’t exactly a universal feature yet, there are still plenty of banks that offer it. Alternatives we explored that didn’t make the cut include banks that offer early direct deposit but that didn’t necessarily offer anything else to set them apart from the crowd. Examples of these banks include Chime®, Axos Bank, and Fifth Third Bank.

We also considered a few banks that have early direct deposit and maybe even a few other perks but charge fees on their accounts. These banks include Huntington Bank, Wells Fargo, and Regions Bank (though all have ways of having your fees waived). These days, there’s just no reason to pay account fees when other banks offer the same perks with no fees.

Bottom line

Many banks offer early direct deposit as a standard feature on their checking accounts. When you’re narrowing down the best option, make sure to pay attention to some of its other features, including monthly fees, minimum balances, interest earnings, and cash back.

Finding the right bank account might take a little effort, but ensuring it has all the features you want and is earning you the highest interest rate possible can be well worth the time.

Be sure to do your research before you sign up with any financial institution, and check out our roundup of the best banks to help you learn more about your available options.