For some people, this pay period is particularly long. The next regular, active duty military payday is Thursday, 1 September 2016. When your pay will actually be credited to your bank account will vary due to the many different policies and practices of different financial institutions. Thankfully, there are no weekends or holidays to make this payday more complicated than usual.
If you don’t know that your bank or credit union offers early direct deposit as a benefit to its customers, you should plan to see your pay at some time on Thursday, 1 September 2016.
One Business Day Early
USAA credits active duty military pay deposits one business day prior to the actual military payday. For this payday, one business day early will be Wednesday, 31 August 2016.
Two Business Days Early
Service Credit Union and Pacific Marine Credit Union (PMCU) both credit military pay deposits two business days prior to the actual military payday. For this payday, two business days early will be Tuesday, 30 August 2016.
This offer is new to Pacific Marine Credit Union customers. They began crediting deposits two business days early in June 2016. Previously, PMCU credited military pay deposits one business day prior to the actual payday.
Navy Federal Credit Union
If you bank with Navy Federal Credit Union (NFCU), the day of your pay deposit varies based upon the type of bank account that you use. Only the Active Duty Checking account offers early direct deposit. All other account types, including eChecking, Campus Checking, Everyday Checking, and Flagship Checking, have pay deposited on the actual military payday.
Members who use an Active Duty Checking account will see their pay pending on Tuesday, 30 August 2016, to be credited overnight and available for use on Wednesday, 31 August 2016.
Members who use any other type of checking account will see their pay pending on Wednesday, 31 August 2016, to be credited overnight and available for use on Thursday, 1 September 2016.
If you aren’t sure what type of checking account you use, check your online account, a paper bank statement, call or go into a branch. If you are on active duty, and don’t have an Active Duty account, consider switching account types. It’s easy to do with just a telephone call, branch visit, or you can do it online. The Active Duty Checking account offers a variety of benefits that are much better than any other type of NFCU checking account, and it is only available to those who are currently serving.
Next pay period should be pretty much the same, so planning should be easy.