Despite the upcoming holiday weekend, the next regular, active duty military payday isn’t until Tuesday, 1 December 2015. When will your pay be deposited into your bank account? Well, that depends. First, it depends on your bank’s deposit policies. Then, it might depend on your account type. It also might depend on your bank or credit union’s deposit process. What’s that mean for you? Let’s see…
Navy Federal Credit Union
This is going to be super-confusing for some people. To understanding what is happening for Navy Federal Credit Union (NFCU) customers this payday, it is important to understand the process that NFCU uses for their deposits. Deposits are scheduled the day prior to the day that they are supposed to be deposited; this is why you often see deposits “pending” in your account. Then, the deposit actually posts overnight, and is available for use the morning of the deposit date. Scheduling has to occur on a business day, so deposits only show up overnight to be available for use on a Tuesday, Wednesday, Thursday, Friday, or Saturday. Deposits that are designed to be available for use on Mondays actually get scheduled on Friday, are posted overnight, and available for use on Saturday.
Many NFCU customers who have military pay deposits use an Active Duty Checking account for those deposits. As a courtesy to their Active Duty Checking customers, NFCU post those pay deposits one business day early. One business day prior to the actual payday is Monday, 30 November 2015, but the NFCU system doesn’t do Monday morning deposits. Therefore, NFCU customers who use Active Duty Checking for their pay deposits will see their deposit pending on Friday, 27 November, to be posted overnight and available for use on Saturday, 28 November.
NFCU customers who use any other type of account will see their pay pending on Monday, 30 November 2015, to be posted overnight and available for use on Tuesday, 1 December 2015.
Please keep in mind that you don’t automatically have an Active Duty Checking account just because you are on active duty. It is one of the many account types that are offered by NFCU, and you may have selected a different account type. Changing account types is a simple process and can be done online, at a branch, or on the phone. If you are eligible for an Active Duty Checking account, and you don’t have one, you may want to consider whether its benefits are right for you. The Active Duty Checking account is definitely the right account for many military families, including this one.
USAA offers early direct deposit of military pay as a benefit to its customers. USAA processes pay deposits one business day prior to the actual payday. For the upcoming payday, one business day prior is Monday, 30 November 2015.
Pacific Marine Credit Union
Pacific Marine Credit Union (PMCU) also deposits active duty pay one business day prior to the actual military payday. For the upcoming November end-of-month pay deposit, that will be Monday, 30 November 2015.
Service Credit Union
This one might be tricky, too. Service Credit Union offers deposits “up to” two business days prior to the actual payday. However, they don’t have a calendar that shows when the deposits will be available, probably because they don’t guarantee that pay will be deposited early. I think that most people will be thinking that pay will be deposited on Friday, 27 November 2015, and maybe that is what will happen. However, there’s no guarantee. Please, please don’t spend that money until it is actually in your account, and think as if it won’t be deposited until after the weekend.
The Thanksgiving weekend always has lots of confusion about pay deposits. Hopefully this guide will eliminate some of the confusion. Enjoy the weekend!