15 March 2016 Military Pay

July 2016 Military Pay

It’s awfully early for another military payday post, but these Tuesday paydays always mean lots of questions.  Tuesday, 15 March 2016 is the next regular, active duty military payday.  Because so many banks and credit unions offer early direct deposit as a benefit to their members, Tuesday paydays can be confusing.  When will your Tuesday, 15 March 2016 military pay be deposited into your account?  That depends…

As always, if you do not know for sure that your financial institution deposits military pay early, you should assume your pay will be deposited sometime on the actual payday, Tuesday, 15 March 2016.

One Business Day Early

The most popular early direct deposit offer  is to deposit the pay “one business day” ahead of the regular scheduled payday.  For almost all banks and credit unions, this means Monday, 14 March 2016.   This includes USAA, Pacific Marine Credit Union, and others.  Navy Federal has a different process; if you bank with them, read below.

Navy Federal Credit Union

Navy Federal Credit Union (NFCU) has two different pay deposit dates based upon which type of checking account you use for your pay deposit.  The only Navy Federal account type that offers early direct deposit is the Active Duty Checking account.  Members who use any other account type are paid on the regular military payday.

Pay deposits that happen around weekends can be a little tricky with Navy Federal, because of the way that they handle their deposit processing.  Navy Federal processes transactions overnight, Monday through Friday evenings, the night before the date that the deposit is supposed to be available.  When the deposit would need to be processed on a weekend or holiday in order to be in the account on it’s “due” date, then Navy Federal processes the deposit on the last business day prior to the “due” date, so deposits that are meant to be available on Mondays are typically available on the Saturday prior.

Customers who use an Active Duty checking account will see their pay pending on Friday, 11 March 2016, to be processed overnight and available for use on Saturday, 12 March 2016.

Customers who use any other type of checking account will see their pay pending on Monday, 14 March 2016, to be processed overnight and available for use on Tuesday, 15 March 2016.

Service Credit Union

Service Credit Union offers early direct deposit of military pay “up to two business days” prior to the actual payday.  They anticipate depositing military pay on Friday, 11 March 2016, pending the receipt of pay information from the Defense Finance and Accounting Service (DFAS.)e

This regular, active duty pay day falls on a Tuesday, which adds all sorts of confusion and complication for service members who get early direct deposit as a courtesy or benefit from their bank.

As always, if you don’t have any reason to suspect that your pay will be deposited early, you should plan for your pay to be deposited sometime on the actual payday, Tuesday, 1 March 2016.

One Business Day Early

The most common early direct deposit offer provided by banks and credit unions is to deposit the pay “one business day” ahead of the regular scheduled payday.  This one isn’t too complicated, as one business day prior to the actual payday is Monday, 29 February 2016.  (Note for Navy Federal Customers – they are different, see below.)  This includes USAA, Pacific Marine Credit Union, and others.

Navy Federal Credit Union

Navy Federal Credit Union (NFCU) has two different pay deposit dates based upon which type of checking account you use for your pay deposit.  Navy Federal only offers early direct deposit for customers who use an Active Duty Checking account for their military pay deposit.  Members who use any other account type are paid on the regular military payday.

Early deposits over weekends is a little tricky with Navy Federal because of the way that they handle their deposit processing.  Navy Federal processes transactions overnight, Monday through Friday evenings (for however long it takes,) for those transactions to be completed for the next day.  With deposits, they are actually processed the night before the deposit is “due.”  When the deposit would need to be processed on a weekend or holiday in order to be in the account on it’s “due” date, then Navy Federal processes the deposit on the last business day prior to the “due” date, so deposits that are meant to be available on Mondays are typically available on the Saturday prior.

Customers who use an Active Duty checking account will see their pay pending on Friday, 26 February 2016, to be processed overnight and available for use on Saturday, 27 February 2016.

Customers who use any other type of checking account will see their pay pending on Monday, 29 February 2016, to be processed overnight and available for use on Tuesday, 1 March 2016.

Service Credit Union

Service Credit Union offers early direct deposit of military pay “up to two business days” prior to the actual payday.  They anticipate depositing military pay on Friday, 26 February 2016, pending the receipt of pay information from the Defense Finance and Accounting Service (DFAS.)

If you get paid before or during the weekend because of early direct deposit, be aware that your next pay period will be longer because 1 April 2016 does not fall until the Friday two weeks from now.

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.