USAA: Getting Paid A Day Early

USAA Getting Paid A Day Early

Before I get too into this post, I want to make something clear: this is not a rant towards USAA or people who use USAA. I have had USAA for insurance and auto loans for years and have loved them. However, I’ve never had any bank accounts with them.

I have heard that service members or federal employees who get paid on the 1st and 15th of the month get their paychecks a day early with USAA. A quick Google search seems to prove this is correct. For example, if the 1st is a Tuesday, they will get paid on Monday the 30th.

I have considered switching to USAA for banking and this is a feature my friends bring up almost immediately. With great excitement! While I wouldn’t qualify for this feature anyway, it has made me curious. And confused.

I don’t get it.

If you get paid on the 30th and 14th instead of the 1st and 15th, don’t you still have the same amount of days between paychecks?

The only perk I could see is that if your mortgage or rent is due on the 1st, you can get paid the day before and get that payment in at the last minute. (Although that makes me a little nervous. I might be a little paranoid, but I pay my mortgage a few days early to allow time for processing.)

I love pay day. I get excited about it, not because I’m living paycheck to paycheck, but because when I get paid I could send money here and here and put it towards my personal finance goals. But still, all the excitement about getting paid a day early concerns me and budgeting woes come to mind.

Or is it a little thrilling to know you got your money before the rest of your coworkers?

Whenever I hear people talk about USAA, this is a feature that gets them the most excited and is almost always brought up right away. But there are still 15 days between your paychecks, so I am confused.

Am I missing something here? Please fill me in! Thanks! 🙂

USAA Getting Paid A Day Early

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  1. We have USAA and LOVE them! However, getting paid a day early has no impact on our reason for our loyalty. We budget and live on the previous month’s income and we are stationed overseas (so we get paid early anyway). So absolutely zero impact.

    We LOVE USAA because of the best customer service EVER!!! My husband’s debt card information was somehow stolen in May. Fortunately, we realized quickly and reported it immediately. The crooks drained our account by nearly $2000 in less than 24 hours!!! USAA started working on it immediately and within 24 hours of us reporting it, we had most of our money back into our account and every penny was back in our account within 3 days. Compared to my sister, who had the same thing happen at a different bank. She had to fight with the bank for MONTHS to get her money back!
    They are also the BEST for those of us living overseas! Absolutely NO international fees and NO ATM fees at any ATM, no matter what country or currency we happen to need.
    I could go on and on… now only if they took over the banks on base… now that bank (ran by Bank of America) has to be the WORST EVER!!!
    Nichole @Budget Loving Military Wife recently posted…A Military Family’s One Income Budget – August 2015My Profile

    • Wow those are some good perks! I know fraud can take forever to work out at other banks, so that’s a huge plus! I have had a lot of luck with their customer service as well for things like insurance and auto loans. Thanks for sharing your experience! 🙂

  2. Getting paid a day early has no real impact on paying bills. It’s just one of those things that make you feel good because other banks would never do that (TCF would hopefully have it posted by the end of the payday) and you have your money one day earlier than your co-workers. The upsides are as previously noted. They will repay any ATM Fees incurred from any ATM. Customer service is great. You can do most of your bill paying (credit cards, house payment,insurance,etc.) right from the USAA page plus check the status of those accounts. Pretty much all of the banking/budgeting tools you may need are on your USAA page.

    • Most major banks these days let you do everything online, such as viewing accounts, budgeting, paying bills etc. But waiving ATM fees is a nice perk! I also have had positive experiences with their customer service for things like insurance and car loans. Thanks for sharing!

  3. I can attest to the fraud situation. Someone was able to get my debit card information and took nearly $1000 from my account and USAA had it all back to me within 24 hours. My absolute favorite thing though is the ATM charges, they do not charge to use any ATM and they reimburse the fees that the ATM itself charges.. so when you use the ATM and it says “You will have a $2.00 fee would you like to continue?” you click yes and USAA reimburses you that money. That is one of my favorite things! Also, same as posted previously, when we go over to Ireland there are no fees for converting your money. Many other banks will charge you conversion fee’s for using international ATM’s or using your debit card over sea’s but USAA does not charge you for that at all and that is awesome! And their customer service is great! The getting paid a day early doesn’t excite me so much and that is basically for the same reason you stated, there are still exactly the same number of days between paychecks so it really doesn’t matter all that much.

    • Thanks for sharing your experience! That sounds like a great perk since you guys go overseas often! Are the ATM fees easy to get back? Do you have to submit anything, or does USAA refund you automatically? I have thought about switching before since I’ve been very satisfied with their insurance, loans, and customer service.

  4. I forgot to add that their mobile site if VERY user friendly and that thing you said about Wells Fargo and being able to take a picture of your checks with your phone and deposit it into your account etc. I have been doing that with USAA for years!

    • That’s awesome! That is one of my favorite features of Wells Fargo. I also love that I can deposit cash at an ATM…so I never really have to go to the actual bank. Since USAA doesn’t have ATMs or regular banks, where do you go to deposit cash? Or dump your coin jar?

  5. We live in Canada right now, but for our US banking (and my husband’s army pension) we use USAA. It’s awesome for both car/contents insurance and for banking. For the army retirement pay, depending on how the first day of the month falls, I’ve seen my husband get his deposit up to 4 days early. It doesn’t affect our budgeting as that money is not really factored into our operating budget, but it is definitely nice sometimes to get money midweek (I’m paid biweekly on a Friday, regardless of date).

    I appreciate that USAA has no ATM fees; you can deposit cheques by phone; they are consummate polite and have been very helpful when we’ve lost cards and wanted a replacement sent to another country (never mind not the home address on file) or when I had a POA for my husband, but I don’t hold his last name, etc. We definitely don’t use all of the financial services that they offer as almost everything we currently hold is in Canada, but definitely worth switching in my opinion.

    • Thank you for sharing your experience! I know some of those Army benefits that pay on the 1st of the month will come early if the 1st is a holiday or a weekend, so it’s nice to have it extra early with USAA. Like you, I don’t budget those benefits, so the early money just allows me to work on some goals a little earlier. From what I’m hearing from everyone and my experience using USAA for insurance and auto loans, it seems like they just really “get” military customers in a way that most banks just don’t.

  6. they automatically give you back the ARM fees. You don’t have to send anything in at all 🙂

  7. they automatically give you back the ARM fees. You don’t have to send anything in at all 🙂

  8. As far as dumping cash or my coin jar, I normally use that as spending money instead of using my debit card. I used to also have a Wells Fargo account and if bring the kids piggy banks there and transfer the money to the USAA accounts I set up for them. I got rid of my Wells account a couple years ago so I have not gone to dump any coins anywhere… I was actually thinking of this the other day because the kids pigs are getting pretty full again! I’ll have to find a coin dump where either I’m not charged or there is some perk I can get for using it. Or I’ll give it to my dad to dump at his bank.

  9. We use USAA but honestly the day early thing doesn’t matter to us and it’s not just federal employees. I was in the Army and my husband in the Marines but we have both had civilian jobs, although government, County and City and the same thing occurred with the early deposit. I honestly could care less about it but have to say we have our insurance through them and they are amazing…you don’t have to fight. Luckily we’ve barely had to use them but when I got into a car accident it was all settled very quickly which I have heard of nightmare stories from others. They do also refund your ATM fees up to $15 so if you ever do have to pull out cash it’s easy (although I almost never have cash on me…so sad).

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