The next regular, active duty payday is Friday, 30 October 2020. Most military members will have their military pay deposited on Friday, 30 October 2020. Some military-friendly banks and credit unions offer early crediting of direct deposited military pay, so your pay might be credited prior to that date. 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
The November end-of-month pay period is going to be unusually long – 18 days for most people. And that’s over Thanksgiving, and Black Friday. If you have a hard time with those long pay periods, or you have big plans for the Thanksgiving weekend, you definitely want to plan ahead.
These long pay periods are also a simple test of your financial readiness. How’s it going? Would you like to be doing better?
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 payday, that will be Thursday, 29 October 2020.
Navy Federal Credit Union
Navy Federal Credit Union (NFCU) has two different pay deposit dates depending on what type of checking account you use for your military pay deposit.
Active Duty Checking customers will see their pay pending on Wednesday, 28 October 2020, to be posted overnight and available for use on the morning of Thursday, 29 October 2020.
NFCU members with accounts that are not Active Duty Checking accounts will see their pay pending on Thursday, 29 October 2020, to be posted overnight and available for use on Friday, 30 October 2020.
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 Wednesday, 28 October 2020.
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 2020 Active Duty Military pay post, or USAA customers can use the 2020 USAA Military Pay Deposit Dates article, or Navy Federal Credit Union members can use the 2020 Navy Federal Active Duty Checking Pay Deposit Dates article.
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