Early Direct Deposit: How You Can Get Paid Early

Direct deposit is a fast, efficient way to move a payment directly from the account of the payer to your personal bank account. These days, most employers offer the option of direct deposit for your paychecks. The funds are generally available much more quickly compared to depositing a paper check; depending on your bank’s rules, money may even be available immediately. If your employer uses direct deposit, that means your paycheck will go straight into your bank account when payroll is processed, with no trip to the bank or waiting for a check to clear. But what direct deposit could actually allow you to get paid early? Stash can help you get paid up to two days earlier with early direct deposit.³

In this article, we’ll cover:

• How early direct deposit works
• The benefits of early direct deposit
• Early access to your money with Stash

How does early direct deposit work?

Employers often offer direct deposit because it can help them cut down on the risks and costs of distributing paper checks and even handle payroll more quickly. Additionally, an electronic record is created for each transaction, allowing the sender and receiver to track funds. To set up direct deposit with your employer, you’ll need to provide them with your banking information: 

• Name of your bank
• Bank’s routing number
• Your account number
• Whether you’re using a checking or savings account

From there, you can choose whether you want to deposit 100% of your paycheck into your checking account or split it between your checking and savings accounts. Your employer might provide a form for this information or ask you to bring in a form from your bank.  

So how do you get paid early? Once your employer or benefits provider process payroll, they will notify your bank of your incoming deposit in advance of your actual payday. When they do and your bank receives the deposit, the bank can fund your account immediately so you don’t have to wait for payday to access your money. Your early pay could be available up to two days before your usual payday.

The benefits of getting paid early

64% of Americans live paycheck to paycheck (Pymnts, 2022), which can make the days leading up to payday stressful if money is tight. Whether your pay period is weekly, biweekly, semimonthly, or monthly, having your hard-earned money available a little sooner can help alleviate some financial stress. Early pay means you may have funds available to pay bills, avoid late or overdraft fees, and more easily cover unexpected expenses. Early direct deposit can give you some peace of mind that your money is available for your most pressing needs. And if you’re trying to save money, automatically depositing a portion of your paycheck into your savings account can make it easier to stash those funds away so you don’t accidentally spend them. 

Top benefits of early direct deposit:

• Pay bills on time
• Avoid overdraft fees
• Avoid late payment fees
• Cover unexpected expenses
• Reduce stress when money is tight
• Initiate transfers before the weekend
• Making saving automatic

Get paid early with Stash

If you have a Stash account, you can set up early direct deposit and get paid up to two days earlier.³ You can even start by allocating a just percentage of your paycheck to your Stash banking account, and increase as you choose. Once you get set up, you should receive your first early direct deposit in one to two pay periods, depending on your company’s payroll policies, and the financial institutions involved. 

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How to set up early direct deposit with Stash

There are two convenient ways to set up early direct deposit with the Stash app. Once you log in to your app, you can choose to receive a pre-filled form to give to your employer or get your routing and account numbers manually so you can fill out your employer’s form. Either way, the process is quick, getting you on the road to an earlier paycheck.

Option #1: Email a PDF. Get a pre-filled form you can send to your employer.

1. Login to the Stash app.
2. Tap Bank at the bottom of the screen. 
3. Tap Direct Deposit.
4. Tap Set up Direct Deposit.
5. Tap Email a PDF. 
6. Check your email! We sent you a form that you can give to your employer.
7. Complete the form and give it to your employer.

Option #2: Copy your account information. Get your account and routing numbers manually.

1. Login to the Stash app.
2. Tap Bank at the bottom of the screen. 
3. Tap Direct Deposit.
4. Tap Set up Direct Deposit.
5. Tap Copy Your Account Information to see your account and routing numbers. 
6. Set up direct deposit with your employer using your routing and account numbers.

Ready to get paid early?

You’ve worked hard for your money, so why not get it into your bank account sooner with early direct deposit? Stash offers banking access that helps you take control of your finances: get your paycheck up to two days early, avoid overdraft fees,² automatically save and invest, and earn stock with the Stock-Back® Card.¹ It’s all part of Stash Core, the world-class infrastructure platform powering our banking and personal brokerage accounts that empower people to build wealth for the long term.

Take charge of your finances.

Get paid up to two days early.

Get Started

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