Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Military Families Military Families

Navy Federal Early Release of Direct Deposit Pay

Posted by on Feb. 4, 2011 at 12:03 PM
  • 15 Replies

I finally got a proper, written response from Navy Federal regarding their new policy of releasing military pay early for members with Active Duty Checking accounts.  Basically, they will release the pay on the day they receive the files from DFAS.  It could be several days earlier, it could be one day earlier.

I think this is awful for people who are living paycheck-to-paycheck.  Yes, you will be getting your money early, and you will always be getting it by payday.  However, I know plenty of families who already run out of money before payday, and that is when you can predict when it might be.  Plus, I think that this might sometimes mean that some of the long pay periods could stretch even longer.

You can read their complete statement here:

Navy Federal 's Statement Regarding Early Direct Deposit

by on Feb. 4, 2011 at 12:03 PM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-10):
mama2drakeNabby
by on Feb. 4, 2011 at 12:13 PM

Honestly I don't see the big deal with early paydays.  It's still the same amount of time in between checks...whether you get paid the 1st and 15th, or 30th and 13th.  It's still the same amount of time.  If you're living paycheck to paycheck, you still have to budget just the same.  It doesn't make any difference.


yasbobari
by on Feb. 4, 2011 at 12:16 PM
Quoting mama2drakeNabby:

Honestly I don't see the big deal with early paydays.  It's still the same amount of time in between checks...whether you get paid the 1st and 15th, or 30th and 13th.  It's still the same amount of time.  If you're living paycheck to paycheck, you still have to budget just the same.  It doesn't make any difference.


agree.
usmclife58
by Nikki on Feb. 4, 2011 at 12:17 PM

Bump

LOswald0314
by on Feb. 4, 2011 at 12:23 PM

 That's strange.  Although, I think if you live on a budget and have a plan for your money it shouldn't matter when you get it.

KateKashman
by on Feb. 4, 2011 at 12:28 PM

The way I read it, one pay you could get it four or five days early, then the next pay it could only be one day early.  Not a problem if you budget and have savings, but unfortunately many folks don't do either.

mama2drakeNabby
by on Feb. 4, 2011 at 12:30 PM

In most cases, it's on a schedule.  According to our bank, it's 2 days before the 1st and 15th.  And that's usually how it is.  Sometimes it's a little earlier, if it's a weekend or a holiday or something like that.

Quoting KateKashman:

The way I read it, one pay you could get it four or five days early, then the next pay it could only be one day early.  Not a problem if you budget and have savings, but unfortunately many folks don't do either.



bubbasmom0917
by on Feb. 4, 2011 at 12:35 PM

payday is the 1st and 15th!!! if u get it before great if not oh well. budget as if those are the only days you are getting paid.

bramamber
by Amber on Feb. 4, 2011 at 1:28 PM
Bump
Posted on CafeMom Mobile
xxxAthena
by on Feb. 4, 2011 at 1:29 PM

ohhh so that is why we got it early this time lol.

kristinlimon
by on Feb. 4, 2011 at 1:33 PM

Agreed. 

Quoting bubbasmom0917:

payday is the 1st and 15th!!! if u get it before great if not oh well. budget as if those are the only days you are getting paid.


Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN