15 April 2011 Pay – It’s All Coming

I hope this doesn’t sound too much like a rehash of yesterday’s post, but I promise it is slightly different. Many readers (and my husband) are reporting that there is a single pay deposit pending in their bank account, for half of their usual pay. This is not too surprising if you have been keeping up on all the nuances of the pay situation, but it is a little scary if you aren’t expecting it.

Because of the way the government non-shutdown happened, the Defense Finance and Accounting Service (DFAS) calculated the half-payments earlier last week.  When the government shutdown was avoided, the military became funded for the other half-payment.  DFAS then began to calculate the rest of the payment, and announced that the 15 April pay would be coming in two separate deposits.  Since the first half was ready earlier, that information made it to the banks earlier.

Certain banks, including Navy Federal Credit Union (NFCU), release  pay funds before the actual payday.  In my husband’s case, the half-payment is showing as pending in his NFCU account.  According to DFAS, the other half will be available by 15 April.

Once again, if you are seeing half a pay on your LES, mid-month net advice of pay, or a deposit pending in your account, please do not worry.  If you are not yet seeing your deposit in your bank account, also do not worry – it isn’t payday yet.  If, however, your LES or mid-month net advice of pay is showing no pay deposit, you might want to check with your finance people.

I know we will all be glad when (if!) this situation gets totally sorted out and we can go back to our normal routines.

About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.
  • EJT

    For those of you banking with NFCU, they are showing 2 pending deposits now for the fuul amount.