The next regular, active duty payday is Monday, 15 October 2018. But what most military members want to know is, “When will that pay show up in my bank account?” With the payday being on a Monday, things are always a little tricky.
Well, that depends. Most military members will have their military pay deposited on Monday, 15 October 2018, but you may have access to your funds earlier if you bank with one of the financial institutions that 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.
But first, a serious heads-up:
October End-of-Month Pay Period Is VERY Long (for some people)
The October end-of-month pay period is going to be a long one – 19 days – if you have early direct deposit of this paycheck. Plan now for how you’ll make your money last that long.
USAA
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, 12 October 2018.
Navy Federal Credit Union
Oh, Navy Federal. They confuse a lot of people. They have two different pay deposit dates, depending on what type of checking account you use. AND their posting is a little different than most banks when it comes to weekends. Because NFCU initiates their postings overnight from weekdays, there’s no way to get paid on a Monday, so pay deposits that belong on Monday come on Saturday.
Only customers who use an Active Duty Checking account receive early crediting of their military pay. Military members who have selected any other type of checking account do not receive early crediting. (If you don’t have an Active Duty Checking account, it is quick and easy to switch: call, hop online, or go into a branch.)
NFCU customers with Active Duty Checking accounts will see their pay posted overnight on Thursday, 11 October 2018, to be available for use on Friday, 12 October 2018.
NFCU customers who use any other type of checking account will see their pay posted overnight on Friday, 12 October 2018, to be available for use on Saturday, 13 October 2018.
Pacific Marine Credit Union
PMCU offers “advance pay” two business days prior to the actual payday. For this pay period, that will be Thursday, 11 October 2018.
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, 11 October 2018.
Depending on how you plan your spending, knowing when the next military payday will come can make a big difference in your plans. You can find all the paydays at my 2018 Active Duty Military pay post, or USAA customers can use the 2018 USAA Military Pay Posting article.
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NFCU direct deposits have always been confusing for me and many of my coworkers… especially when payday lands on a Monday. This article explains it much better than any that I have found. I have sent this link to several of my coworkers. Thank you for breaking it down into plain English.