We're coming up fast on the Friday, 15 January 2016 military pay time, the first payday to include the 2016 military pay raise and changes to BAH and Tricare dental premiums. The exact date that your pay will be direct deposited into your bank account depends on your bank or credit union. Many financial institutions offer early direct deposit of military pay as a benefit to their customers. If you don't know that your bank or credit union will deposit your pay early, then you should expect to have your pay deposited at some time on Friday, 15 January 2016 actual payday.
One Business Day Early
Amongst the banks and credit unions that offer early direct deposit, the most common offer is that pay will be deposited "one business day" before the regular military payday. This includes USAA, PMCU, and others. For this payday, one business day early is Thursday, 14 January 2016.
Navy Federal Credit Union offers military pay deposits one business day early for their customers who use an Active Duty Checking account for the direct deposit of their military pay. Customers who use any other type of checking account do not have their military pay deposited early. Don't forget that Navy Federal Credit Union often shows your deposit as pending up to several days before the deposit is actually posted. Be careful not to spend that pending money before it is posted.
Two Business Days Early
Service Credit Union offers to deposit military pay up to two business days early, pending the receipt of pay information from the Defense Finance and Accounting Service (DFAS.) For this payday, two business days early is Wednesday, 13 January 2016.
I'd love to increase the number of banks and credit unions for whom I track military pay deposits. Let me know if your bank or credit union offers early direct deposit to its customers. I look into it more and report back what I learn.
