The next regular, active duty payday is Monday, 1 July 2019. These Monday paydays can be really confusing. Most military members will have their military pay deposited on Monday, 1 July 2019. However, depending on your bank or credit union, you may have access to your funds earlier if they offer early crediting of direct deposited military pay. The biggest bank that offers this benefit is USAA, and Navy Federal Credit Union (NFCU) offers it for members who use an Active Duty Checking account.
Long pay period warning: If you receive your pay early, the July end-of-month pay period is going to be long…plan ahead to avoid being broke at the end of July.
USAA’s early crediting policy is straightforward and easy to understand: military pay deposits are credited one business day prior to the actual military payday. For this pay period, that will be Friday, 28 June 2019.
Navy Federal Credit Union
Navy Federal Credit Union has two policies that are confusing to people. First, they have two different pay deposit dates, depending on what type of checking account you use. If you use an “Active Duty Checking” account, you get early crediting. If you use any other type of account, you don’t get early crediting. Second, they have a depositing system based on scheduling the deposit the day before, then crediting it overnight, that relies on the “day before” being a weekday. This means that sometimes even “regular” checking accounts get the benefit of early direct deposit, even though that is usually only a benefit of Active Duty Checking. So how’s this going to look over THIS payday?
NFCU customers with Active Duty Checking accounts will see their pay posted overnight on Thursday, 27 June 2019, to be available for use on Friday, 28 June 2019.
Even though the regular payday isn’t until Monday, NFCU’s overnight processing system means that non-Active Duty Checking customers will see their pay posted overnight on Friday, 28 June 2019, to be available for use on Saturday, 29 June 2019.
Service Credit Union
Service Credit Union’s early crediting offer is “up to two business days,” pending the receipt of the pay files from the Defense Finance and Accounting Service (DFAS.) For this pay period, Service Credit Union anticipates crediting pay on Thursday, 27 June 2019.
You can see a complete list of banks and credit unions that I know offer early direct deposit at Banks and Credit Unions With Early Direct Deposit Of Military Pay
Depending on how you plan your spending, knowing when the next military payday will come can make a big difference in your plans. Start planning for the year with the 2019 Active Duty Military pay post, or USAA customers can use the 2019 USAA Military Pay Posting article.
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