HOW IT WORKS
Your employer sends payroll instructions to the Federal Reserve.
The Federal Reserve tells us how much you should be paid and when.
Instead of making your money available to you on that date, we make it available to you as soon as we receive that notification from the Federal Reserve, up to two days early.1
It’s that easy! No extra cost, just your money available to you up to two days earlier.
ENROLL IN PAYROLL DIRECT DEPOSIT
Ready to enroll in direct deposit and start getting paid early?1
To enroll in direct deposit, simply:
Provide your employer with your account and routing numbers provided at the top of your account statement or in the BankMobile App under “Direct Deposit”.
1 Funds from payroll-related direct deposits may be made available up to two days early. Early access to payroll deposits applies to the direct deposit of funds from your employer. Employer direct deposits vary and, as a result, it is not possible to guarantee early access to your pay. Factors that will affect this include the sender’s deposit description used and the timing of their submission of deposit. In order to provide this service, we generally post such deposits on the business day we receive notice that the deposit is scheduled, which may be up to two (2) business days earlier than the payer’s scheduled payment date. In general, benefit checks (direct deposit or otherwise) from the federal or state government will not be eligible for early access based on the parameters we use. As an example, benefits that generally would not receive early access include but are not limited to unemployment, retirement, pension, civil service, railroad retirement and veteran’s payments.
TAX REFUNDS:
FAST, SAFE AND SECURE WITH DIRECT DEPOSIT
By electing to have your tax refund deposited electronically to your checking or savings account, you can receive it safely, securely – and up to three days early.2
HOW IT WORKS
The Federal Reserve tells us the amount of your tax refund and the date it should post to your account(s).
Instead of making your tax refund available to you on that date, we make it available to you as soon as we receive that notification from the Federal Reserve, often up to three days early.2
Simply select direct deposit as your refund method through your tax software and type in your account and routing numbers or tell your tax preparer that you would like to enroll in direct deposit.
Your account and routing numbers can be located at the top of your account statement or in the BankMobile App under “Direct Deposit”.
2 Early access to tax refund direct deposits depends on deposit description and timing of government’s submission of deposit. We generally post such deposits on the business day they are received, which may be up to three business days earlier than the scheduled payment date. Early access is not guaranteed.
We do not provide financial, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for financial, legal or accounting advice. You should consult your own financial, legal and accounting advisors before engaging in any transaction.