What Time Does Direct Deposit Hit? Direct Deposit Times at Major Banks

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A direct deposit was an added perk offered by banks back in the day, but it has become a default option for most users. However, the feature’s ubiquity doesn’t automatically mean that everyone knows about precise direct deposit times.

In most cases, direct deposits will hit your bank account at a set time each payday, but that may differ depending on your bank. It may take a few hours or days for your direct deposit to reflect in your bank account balance.

What Is Direct Deposit?

Technological innovation has changed the banking process for the better. Previously, payees had to go to the bank to cash their paychecks. However, the payer can initiate an electronic payment readily deposited into the receiver’s bank account with direct deposit.

While paper check deposits took anywhere from two to five days for clearance, direct deposit is just as it sounds — direct. The payee does not have to wait for a long time to receive their payment.

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To set up direct deposit, you must fill out a form provided by an employer or the government. You’ll need to fill in your name, address, account number, and your bank’s name and routing number.

What Time Does Direct Deposit Hit?

Direct deposits are instantaneous, meaning you get paid the same day the payer sends the money. However, the time frame for receiving this money depends on who sends the money and from where.

For example, your employer has a system that ensures every employee gets paid per the payroll schedule. In this case, you can expect the direct deposit to hit midnight on payday.

Although it’s important to keep in mind that each financial institution is different. For example, if your bank receives your deposit at midnight, it may take a few hours for the bank’s records to show the deposit. If your deposit hits on a holiday or a weekend, it could further delay the funds showing up in your account.  

Keep In Mind

Meanwhile, direct deposits from the government, such as social security benefits, arrive on the second, third or fourth Wednesday of the month. If Wednesday is a national holiday, the direct deposit will hit the last business day before the holiday.

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As for other direct deposit sources, the amount arrives in your bank account within one business day or the same day. More importantly, direct deposits are not generally held by the bank. 

Benefits of Direct Deposits

Direct deposits have many benefits, which is why many employers and the government have adopted them. Here are some of the benefits of direct deposit:

Direct Deposit Times for Major Banks

Wondering what time banks process direct deposits? Here’s a table showing the direct deposit times for major banks in the U.S.:

Bank Direct Deposit Time
Axos Bank Up to two days before scheduled payment
Bank of America, Member FDIC Same day
BECU Immediately when the deposit is received
Capital One Immediately when the deposit hits the bank
Chase Between 3:00 and 5:00 a.m. the day after the deposit is sent
Citi® Between 12 a.m. and 7 a.m.
Citizens Bank As soon as the bank receives the deposit on business days
Fidelity Bank As soon as the bank receives the deposit
Pentagon Federal Credit Union Immediately when the bank receives the funds
TD Bank The day the deposit is received
Truist As soon as Truist receives the funds
U.S. Bank 8 a.m. PST on payday
USAA Up to one day early
Wells Fargo Up to two days before scheduled payment
Woodforest National Bank As soon as the bank receives the deposit
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In most cases, you can start using the money on the same day it’s deposited into your account.

Final Take

Whether your bank account shows your direct deposit at midnight or a few hours later, it’s the quickest way to access your funds. After all, if you decide to get paid using a paper check, you may have to wait several business days for your check to clear before you gain access to the money. If your employer offers direct deposit, now’s the time to sign up.  

Direct Deposit FAQ

When it comes to direct deposits, some of the most common questions include:
  • What time of day does direct deposit hit?
    • The timing can vary from one financial institution to another, so it's best to check with your employer, payroll company and bank.
  • What time is a direct deposit paid?
    • Direct deposits are typically paid at midnight when they hit your account.
  • Why hasn't my direct deposit hit yet?
    • There are multiple reasons your direct deposit may not be showing up in your bank account, but the two most common include:
      • The deposit was made after the cutoff time.
      • There is a delay between when the deposit was made and when the funds were available.
    • If your direct deposit doesn't hit your bank account when you think it should, your best action is to contact your bank
  • How does direct deposit work if I get paid on Friday?
    • Direct deposit works the same regardless of which day you're paid. Your employer makes a payment, and it shows up in your bank account. On the other hand, if you expect your direct deposit on a weekend or holiday, you'll typically receive your money the business day before payday, especially when you work for a government employer. However, some private employers may process direct deposits the business day after payday when your payday falls on a weekend or holiday.

Scott Jeffries contributed to the reporting for this article.

Information is accurate as of Oct. 27, 2022.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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About the Author

Joshua Rodriguez is a personal finance and investing writer with more than 10 years of experience. He is the founder of CNA Finance. His work has been featured on U.S. News & World Report, Money Talks News and several other mainstream outlets. 
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