Early Pay Frequently Asked Questions
What is early direct deposit?
Early direct deposit is a feature of all Beacon checking accounts that allows you to receive your paycheck directly into your checking account up to two days earlier than the scheduled pay date.
How does early direct deposit work?
To take advantage of early direct deposit, you need to set up direct deposit with your employer. This involves providing them with your checking account details. When your employer processes payroll, the money is made available to your financial institution. Access to early funds depends on how your employer's payroll services operate.
What are the benefits of early direct deposit?
Early direct deposit can provide a financial buffer by allowing you to access funds sooner. This can help you cover bills, groceries, or other urgent expenses without the stress of waiting for your paycheck.
Are there any fees associated with early direct deposit?
There are no fees associated with Beacon Credit Union's early pay process.
What should I do if I encounter issues with my early direct deposit?
You can reach out to Beacon's call center at 434.237.1566 or visit a branch location.
Can anyone use early direct deposit?
Early direct deposit is available to all members who have a Beacon checking account and a direct deposit attached to their checking.
If an ACH transfer that we credit to your account is revoked prior to final settlement, or is reversed or returned, then we may charge your account for the amount credited without prior notice (even if you have already withdrawn the funds or it causes an overdraft of the account).
