Best banks for early direct deposit in 2025
Everyone looks forward to payday — and if it arrives early, all the better.
Direct deposit makes getting paid fast and easy since the money appears in your bank account automatically, without needing to go to a bank. Some banks allow you to receive deposits even faster — by up to two days — through early direct deposit.
Getting expedited access to a direct deposit can help avert late payments on bills or prevent you from having to incur an overdraft fee by ensuring your account is funded. Many banks offer accounts that feature early direct deposit — and the list is growing. Here are Bankrate’s top picks for banks with early direct deposit.
Bankrate’s best banks with early direct deposit in 2025
| Bank | Checking account name | APY | Monthly fee |
|---|---|---|---|
| Ally Bank | Spending Account | Up to 0.25% | None |
| Axos Bank | Essential Checking | N/A | None |
| Capital One | 360 Checking | 0.10% | None |
| Chime | Online Checking Account | N/A | None |
| Current | Current account | N/A | None |
| Fifth Third Bank | Momentum Checking | N/A | None |
| Huntington Bank | Asterisk-Free Checking | N/A | None |
| LendingClub | Rewards Checking | up to 0.15% | None |
| OneUnited Bank | Black Wall Street Checking | N/A | None |
| SoFi | Checking and Savings Account | 0.50% | None |
| Varo Bank | Bank Account | N/A | None |
| Note: Annual percentage yields (APYs) shown are as of Feb. 11, 2025. APYs may have changed since they were last updated. The rates for some products may vary by region. N/A Not available. |
Ally Bank
Ally Bank won the distinction of being named the best bank in the 2025 Bankrate Awards. Ally stands out for its competitive APYs, minimal fees (including no overdraft fee) and ATM fee refunds.
With Ally Bank’s Spending account, customers can get up to eight early direct deposits each month, for checks of $10,000 or less. Meanwhile, all checking account balances earn a yield that’s competitive for an interest-earning checking account, especially since there’s no hoops to jump through to earn the rate.
Ally Bank also covers up to $250 for overdrafts with no fee when you set up direct deposits; without direct deposits, it covers up to $100.
Pros
- The Spending account doesn’t charge a monthly fee, overdraft fee or incoming wire transfer fees.
- All checking balances earn interest.
- Customers get up to $10 in ATM fee refunds per month.
Cons
- Direct deposits greater than $10,000 don’t qualify for early direct deposit.
Axos Bank
Axos Bank offers checking, savings and money market accounts, as well as certificates of deposit (CDs).
Its Essential Checking account features Direct Deposit Express, an early direct deposit service. There’s no minimum deposit to open this account and no monthly maintenance fee.
The account also charges no overdraft or nonsufficient funds fees. Axos also reimburses all domestic ATM fees on the Essential Checking account.
Pros
- The Essential Checking account charges no overdraft or monthly fees.
- Customers get unlimited domestic ATM fee reimbursements with the Essential Checking account.
Cons
- Direct deposit express is only available with Essential Checking.
Capital One
Customers of Capital One can get their paychecks direct deposited early with a 360 Checking account. The 360 Checking account has no monthly fees and charges no overdraft fee. In addition to digital access to their accounts, customers also have access to a network of more than 70,000 fee-free ATMs.
Plus, all balances in this account earn some interest.
Pros
- The bank’s 360 Checking account charges no monthly fees or overdraft fees.
- Customers have access to more than 70,000 fee-free ATMs.
- The 360 Checking account earns interest.
- Capital One has some branches and banking cafes.
Cons
- No fee reimbursements for out-of-network ATMs.
Chime
Chime is a financial technology company, not a bank. But it partners with The Bancorp Bank and Stride Bank to offer banking products, including online checking and savings accounts.
The Chime Online Checking Account charges no monthly fees and requires no minimum balance. It offers up to two days early access to direct deposits, along with access to more than 50,000 surcharge-free ATMs.
Chime also allows its customers to overdraw their accounts by up to $200 without an overdraft fee. In addition, customers have fee-free access to $500 of their paycheck before payday.
For those looking to jumpstart their savings, the account also offers a feature to round up debit card purchases to the nearest dollar and then transfer the money into a Chime Savings Account.
Note that because Chime is not a bank, Federal Deposit Insurance Corp. insurance only kicks if one of the partner banks fails, not Chime. If Chime were to fail, you’d have to work with the company to get your money back.
Pros
- The checking account comes with no monthly fees or overdraft fees.
- Customers have access to over 50,000 fee-free ATMs.
- If early direct deposit isn’t enough to cover certain expenses, Chime spots customers up to $200 without a fee.
Cons
- Customers are limited to $515 in cash withdrawals a day and $2,500 for all transactions using the Chime card per day.
Current
Current, another fintech company that helps you save, offers an account that can be used for spending or for building up Savings Pods. Early direct deposit is one of several features that comes with a Current account.
Current account holders also get cash back and earn points. There’s no monthly fee or minimum balance requirement for the account.
Customers who receive at least $500 in monthly direct deposits can take advantage of Current’s Overdraft service, which spots up to $200 in overdrafts with no fee.
Though Current has no branches, customers can deposit cash into their accounts at more than 85,000 retailers, including CVS, 7-Eleven, Dollar General and Family Dollar. A $3.50 fee applies for each transaction. Current accounts also are FDIC-insured by up to $250,000 through its partner banks. Since Current isn’t a bank, FDIC insurance is only available if one of the partner banks fails, not Current. If Current failed, it would be necessary to work with the company to recover your money.
Pros
- No-fee overdrafts are spotted up to $200.
- Customers can deposit cash to the account at over 85,000 stores.
Cons
- There’s a $3.50 fee for depositing cash, which must be done through a third-party retailer.
- The amount you’re covered for overdrafts varies depending on your direct deposit history and account activity.
Fifth Third Bank
Customers who have a Fifth Third Momentum Checking account automatically have access to early direct deposit if direct deposit is set up for the paycheck. In addition to early direct deposit, Fifth Third Bank also offers cash advances through its MyAdvance service. Customers can utilize MyAdvance to take an advance of $50 to $1,000. A fee of 3 to 5 percent, depending on how long the customer has been enrolled, is assessed on all advances.
The bank charges a $37 overdraft fee. The fee can be avoided using the Fifth Third Extra Time feature, which provides additional time to make a deposit to cover the overdraft and avert the fee. The deposit to cover the overdraft must be made by midnight eastern time the next business day.
Pros
- The Fifth Third Momentum Checking account has no minimum balance requirement and no monthly fee.
- Customers have access to the MyAdvance service, which can also help cover expenses ahead of a paycheck.
Cons
- There is a $37 overdraft fee, though it can be waived when a deposit is made by midnight the next business day.
- Early Pay is only available for Momentum Checking or Express Checking customers.
Huntington Bank
Huntington Bank has several checking accounts that each come with early direct deposit. Asterisk-Free Checking, the bank’s most basic checking account, has no monthly maintenance fee and no minimum deposit requirement.
All checking accounts come with a $50 overdraft buffer, meaning you won’t be charged the $15 overdraft fee if you overdraw your account by $50 or less. You also won’t be charged the fee if you make a deposit to cover the overdrawn amount within 24 hours of the transaction. The Huntington SmartInvest Checking account does not charge an overdraft fee.
In addition to early direct deposit, Huntington Bank offers another unique deposit feature. Customers can get immediate access to up to $500 of any check deposited at a branch, ATM or on the bank’s app.
Pros
- The Asterisk-Free Checking account has no monthly maintenance fee and no minimum deposit requirement.
- Customers get a $50 overdraft buffer, and a 24-hour time window to pay back overdrafts and avert the overdraft fee.
- Up to $500 of deposited checks can be accessed immediately.
Cons
- Unlike some banks, Huntington still charges an overdraft fee.
LendingClub Bank
LendingClub bank offers personal checking accounts, a high-yield savings account and CDs. The Rewards Checking account earns 1 percent cash back on purchases, and it provides early access to direct deposited paychecks.
Account balances of $2,500 or greater earn interest; the highest APY is earned on balances of $100,000 or more.
There is no monthly fee for the account, and you only need $25 to open it. Account holders receive unlimited ATM fee rebates.
Pros
- There are no monthly fees or ATM fees for the Rewards Checking account.
- Customers earn cash back.
Cons
- To earn interest, you must have at least $2,500 or more in the account.
OneUnited Bank
OneUnited Bank is the largest Black-owned bank in the U.S. It offers several checking account products, including a no-fee Black Wall Street Checking account and a second-chance account, U2 E-Checking.
Consumers who have a OneUnited checking account are automatically enrolled in the bank’s early direct deposit feature, Early Pay, after receiving one to two directly deposited paychecks.
OneUnited offers an automatic savings feature, which can be used between OneUnited accounts or with an external linked checking account. The tool rounds up each transaction and moves the extra change to a savings account.
The Black Wall Street Checking account charges no monthly service fee. Customers can access more than 100,000 surcharge-free ATMs. Both the Black Wall Street checking account and U2 E-Checking account require just $25 to open.
Pros
- OneUnited Bank’s savings account comes with an automatic savings feature, which automatically rounds up transactions.
- Those who have a negative report in ChexSystems may open up a second-chance checking account with OneUnited Bank.
- Customers have fee-free access to an extensive network of over 100,000 ATMs.
Cons
- The U2 E-Checking second-chance account charges a $12 monthly maintenance fee.
SoFi Bank
SoFi Bank offers a combined Checking and Savings account. There’s no monthly fee on the account or balance minimum, and it comes with early direct deposit.
Many other fees are waived for the combined account, including overdraft fees.
Both the checking and savings balances earn competitive yields, though you need to set up direct deposit to earn the high savings rate. The other way to earn the high savings rate is to have general deposits totaling more than $5,000 per month.
As of this writing, SoFi also offers a cash bonus to new customers of $50 or $300, depending on how much is directly deposited into your account within 25 days.
See more: Best bank bonuses
Pros
- The Checking and Savings account doesn’t charge monthly maintenance fees or overdraft fees.
- Both checking and savings balances earn a competitive rate.
Cons
- To earn the high savings APY, you need to have substantial deposits into the account ($5,000 or more) or set up direct deposit.
Varo Bank
Varo Bank offers early direct deposit through its checking account, which has no monthly fees or minimum requirement. In addition, the Varo Bank debit card offers cashback.
Varo Advance, a checking account feature, allows customers with positive account balances and at least $800 received in direct deposits to get up to $500 as a cash advance through Varo Bank’s app. The advance must be paid back within 30 days and a flat fee of $1.60-$40 (based on the loan amount) applies.
Varo’s checking account provides access to more than 40,000 fee-free ATMs and charges no foreign transaction fees.
Pros
- There are no monthly fees, overdraft fees or foreign transaction fees for Varo accounts.
- Customers are able to take a cash advance of up to $500.
- The Varo Bank debit card earns cash back.
Cons
- Cash advances come with potentially high fees. Other accounts offer this perk fee-free.
Early direct deposit is a handy and low-effort perk to take advantage of: As long as your checking account offers this feature, you’ll get your direct deposits early.— Yuliya Goldshteyn, deposits editor, Bankrate
What is direct deposit?
Direct deposit is a service in which checks are automatically deposited into consumers’ bank accounts. Enrolling in direct deposit typically requires the account holder to complete a form, either online, at a branch or at their employer (for payroll deposits).
Direct deposit works for certain payments only, such as your paycheck, federal and state tax refunds and Social Security or other government benefit payments. Just putting in a deposit in the bank, or a transfer, won’t be considered a “direct deposit.”
Usually, it can take a couple of days for direct deposit to process and appear in an account after payment has been initiated. With early direct deposit, however, the money becomes available as soon as it is sent to the bank, up to two days earlier than it typically takes.
Pros and cons of early direct deposit
Pros
- Getting your paycheck early to help cover bills or other expenses on time.
- Having your funds early can prevent you from incurring overdraft fees.
- Early direct deposit can also help you get a tax refund or other government-issued check faster in some cases.
Cons
- Early deposits may encourage consumers to spend their money faster, rather than practice saving habits.
How does early direct deposit work?
The sender of a direct deposit — such as an employer — submits information through the Automated Clearing House (ACH) network. This is a system that makes electronic transfers between banks possible.
After the bank is alerted about the direct deposit submission, most banks hold onto the funds until the date specified by the sender. But banks that offer early direct deposit post the funds to the receiver’s account as soon as the bank gets the direct deposit files. These funds can be posted up to two days earlier than they would be without the early deposit.
Bottom line
Early direct deposit can be a great tool to help make payments on time and avoid relying on overdrafts or credit. If you’re looking for an account that specifically offers early direct deposit, make sure to consider other important factors such as fees charged, minimum balance requirements to open the account and whether you’re eligible for early direct deposit at all.
