Don't forget, only four more paychecks until Christmas - and a long pay period. Plan now to prevent panic later.
It is a few days early for my usual one-week-before-payday update, but the questions have been coming in pretty quickly. The next regular, active duty, military payday is Thursday, 1 November 2012. Most people will see their pay arrive sometime on that day. However, some banks and credit unions offer early direct deposit as a courtesy to their customers. Not sure about your banking institution? You can check around here at The Paycheck Chronicles, you can ask your friends, you check your old bank statements, or you can ask your bank.
Amongst the organizations that offer early direct deposit, the most common offering is one business day early. These include USAA and PMCU. Customers of USAA and PMCU, and other institutions that offer direct deposit one business day early, should expect to have their pay deposited on Wednesday, 31 October 2012.
If you bank with Navy Federal Credit Union, your deposit schedule depends on the type of account into which you are having your active duty pay deposited. Members who have their pay deposited to Active Duty Checking accounts will see their pay pending on Tuesday, 30 October 2012, to be posted overnight and available for use on Wednesday, 31 October 2012. If you have any other type of account, you will see your pay pending on Wednesday, 31 October 2012, to be posted overnight and available for use on Thursday, 1 November 2012.
Service Credit Union offers early direct deposit "up to two days early," pending receipt of information from the Defense Finance and Accounting Service. With payday falling near the end of the week, I imagine that Service Credit Union will be able to post deposits on Tuesday, 3o October 2012. As always, I suggest you don't make any serious financial transactions dependent upon the early pay. It is a courtesy, not a guarantee, and who knows what might happen.
What time will you get paid? It can be any time, so don’t worry. See What Time Will I Get Paid? for more information.
Are you pretty sure that you should have been paid, but you haven’t? Check out Why Hasn’t My Pay Been Deposited?
