6 Accounts with Early Direct Deposit

Wells Fargo is a big bank that has been around since 1852. To date, there are about 4,700 locations and more than 12,000 in-network ATMs across the U.S., and Wells Fargo offers everything from checking and savings accounts, credit cards, mortgages, car loans, to personal loans.¹

Wells Fargo has a few different checking account options which come with their own fees. Depending on the account, the monthly fees for Wells Fargo start at $5 and can be as high as $35 unless you fulfill the requirements to avoid them.^2,3 You can enjoy a higher interest rate for a savings account or a CD if you link your checking account to it.

To open an account, you need to fund it with at least $25. Not enough money in your checking account to cover a transaction? It may cost you $35, and you can get hit with that fee up to three transactions a day.⁴

Early Pay Day, the early direct deposit feature, is included with direct deposit, and you can get paid up to two days early. However, not all direct deposits are eligible, and this feature can vary from deposit to deposit.⁵

Who should consider Wells Fargo? People who can afford the minimum balance to get the monthly fee dropped — which starts at a $500 daily minimum balance. If you’re between 13 to 24 years old, you can open a Wells Fargo’s Clear Access Banking^SM account and avoid paying the monthly fee.

Axos Bank is an online bank that offers checking and savings accounts, mortgages, personal loans, and auto refinancing. Launched in 2000 and headquartered in San Diego, California, Axos has since been named one of Forbes’ Fastest Growing Companies in America.^6,7

To tap into Axos’ early direct deposit feature, you’ll need to sign up for its Essential Checking account. Axos features no monthly maintenance fees, no overdraft or non-sufficient fund (NSF) fees, and no minimum amount to open an account. Plus, there’s no cap for getting reimbursed on fees at domestic ATMs.

However, you won’t be able to access early direct deposit through its other accounts, which offer higher interest rates or cash back.⁸

Who should consider Axos? People who want a simple checking account to pay for everyday expenses, and whose primary goal is early access to their paycheck.

Chime is a fintech company that’s headquartered in San Francisco, California. It provides checking, interest-earning savings, and credit builder accounts for the millions using Chime.⁹

Chime charges no monthly account fees, no monthly minimum fees, and no overdraft fees. You can access over 60,000 fee-free in-network ATMs across the U.S.¹⁰

Like other fintech companies and banks that offer early direct deposit, Chime lets you get paid up to two days early with direct deposit. However, a standout feature is SpotMe^®, which is a fee-free service where Chime covers overdrafts within your personal limit, up to $200, without a fee.¹¹

Plus, there are easy ways to save. For instance, when you make a purchase with your debit card, Chime rounds up your purchases to the nearest dollar, then saves the round-up amount to your Chime savings account.¹²

An online bank that’s headquartered in Detroit, Michigan, Ally offers savings, checking, CDs, credit cards, mortgages, auto and personal loans, and investing and retirement products.¹³

Ally’s early deposit feature is free and automatic when you sign up for an Ally Bank Spending Account, and you can receive your paycheck up to two days early.¹⁴ There are no monthly maintenance or overdraft item fees. 

There are a few fees to be aware of. Ally charges for outgoing domestic wires, expedited delivery, and an hourly account research fee.¹⁵

Who should consider Ally? People who want early access to their direct deposit and are also interested in products like auto and personal loans.

Founded in 1994 and based out of McLean, Virginia, Capital One offers branch locations and over 70,000 ATMs. Uniquely, Capital One offers Cafés where you can manage and open accounts while enjoying food, drinks, and free Wi-Fi.^16,17

Capital One’s 360 Checking^® account doesn’t require a minimum balance and doesn’t have a monthly account fee. Plus, there are multiple overdraft protection options. You can deposit cash at certain ATMs in Capital One’s network.^18,19

Like other banks that offer early direct deposit, Capital One’s early paycheck feature is available if you open a 360 Checking account. It’s free, and you can get paid up to two days before your scheduled payday. However, the interest earned is minimal, and some fees apply.²⁰

Who should consider Capital One? People who get paid in cash and want to deposit cash into their checking account.

Chase Bank is headquartered in New York City and offers savings accounts, checking accounts, CDs, mortgages, car loans, credit cards, and investing products. There are over 15,000 ATMs and more than 4,700 brick-and-mortar branches.^21-23

Chase’s checking account offers ways to auto-save into your linked savings account. Mind the fees for Chase accounts – for example, the Chase Total Checking^® account has a monthly $12 monthly service fee. And to get this fee dropped, you’ll need to either have $500 a month in electronic deposits, a daily balance of at least $1,500, or a daily balance of $5,000 among your combined accounts. Plus, you could incur a $34 overdraft fee if you overdraw by more than $50.^23,24

Like many other banks that offer early direct deposit, the feature comes with your checking account, and you can get paid up to two days early. However, while Chase’s early direct deposit feature is technically free, you do need to pay the $4.95 monthly service fee.²⁵

Who should consider Chase? Folks who can maintain a high daily balance in order to avoid paying monthly account fees.

Finding an account that offers early direct deposit can boost your day-to-day financial wellbeing. But that’s not all to look for. When comparing accounts, consider options like limited fees, access to ATMs, and built-in savings features.

Want to learn more about your banking options? Read about the best online checking accounts.