Most people have run into the “month left at the end of the money” situation. Life can bring unexpected expenses that you might not have the resources to deal with. If expenses have left you short, you can find yourself having to borrow, incurring late fees on bills, or hurting your credit by defaulting on payments.
Wouldn’t it be great if you could get your paycheck early to avoid these problems? The good news is, in some circumstances, you can!
How to get your paycheck early
You may want to get paid early, but you might not need your whole paycheck—sometimes getting just part of your paycheck will see you through a rough patch. Or maybe you want to have full access to your paycheck a day or two early or on the pay date without having to pick it up at work, waiting for it in the mail, or wasting time taking it to a cashier. Fortunately, you have options:
- Bank accounts: There are bank accounts that allow you to access your paycheck up to two days in advance.
- Everyday pay: Some employers can pay their workers at the end of each workday. That way, employees don’t have to wait a week or two for their paychecks.
- Payout cards: Employers can load their employees’ paychecks onto a payout card, so they have full access to their pay after the employer loads it onto the payout card.
Below, we’ll dig into these options in more detail!
Bank accounts to get your paycheck early
Some banks and credit unions are now offering their clients the option to get their paycheck one or two days early. The client has to have direct deposit, which means the employer doesn’t use checks to pay their employees. Instead, the employer automatically deposits the employee’s paycheck into their bank account on a set schedule. Accounts that let people access their paycheck one or two days in advance are becoming more common, so you should be able to find a bank or credit union that offers this. Be sure to check any fees and account-opening requirements.
Payment at the end of every day
Did you know that there are apps that allow your employer to pay you every day? So instead of wondering how to get part—or all—of your paycheck early, you and your employer can use an app that lets you access your daily wages at the end of the workday.
There are things employees should know when using apps to get paid daily:
- The amount you can access will be after taxes and any garnishments have been deducted.
- You can transfer the money directly to a bank account you have connected to the app, but there are usually fees to do this.
- Once you get your paycheck, it will have the amount you accessed early deducted from your wages. This can put you in a cycle of always being short of funds.
Still, being able to access your pay daily is a great option if you need to get part of your paycheck early.
Payout cards to get your pay
Payout cards are an excellent way for employers to manage payroll and for employees to get paid. Juice For Business allows an employer to load the employee’s paycheck onto a payout card. The funds are available immediately, and the card can be used like a debit card.
Here are some of the benefits employees get from using a payout card:
- You have immediate access to your paycheck.
- You don’t need to pick up your check or wait for it to come in the mail.
- You don’t need to go to a bank or cashier to cash your check.
- You don’t need a bank account.
- Since your employer can load the funds onto your payout card when they choose to, you can get early access to your paycheck with your employer’s consent.
- You can use it like a debit card or withdraw funds at an ATM.
Pick your paycheck option
When you need to get your paycheck early or want to have full access to it on payday, you have some options to choose from. If you’re short on funds, it’s nice to know that you can access at least part of your paycheck early.
If you’re an employer and want to ensure funds from your employees’ paychecks are available when they need them, have a look at how Juice For Business can help you make it happen.