You’ve probably noticed that we’re a little bit obsessed with getting paid. We’ve written about it extensively, and we’re constantly reading up on it. That’s because when you get paid, you can do all the things you want to do in your life—and that means a lot more fun for everyone! But what if you want to know how early is too early to get paid? Or what if your boss asks for your salary history? Well, this article will tell you everything you need to learn about how you can get paid 2 days early or even earlier.
How to Get Paid Early
According to SoFi, you can “set up direct deposit to automatically get your paycheck up to two days early every time you get paid.” You can also get paid early by requesting it from work in advance. If you’re a contractor, freelancer or self-employed, your employer might have no problem with paying you early. Just ask!
If you’re a salaried employee and are worried about asking for money too soon, know that your boss would rather pay someone early than late if they have the budget to do so—especially if they know it’s coming up on an important milestone (like rent). Don’t be afraid to ask for what is owed to you.
Standard Pay Cycles
How often you get paid is called your pay cycle. Generally, there are two types of pay cycles: biweekly and monthly. When you sign up for a new job, ask about the company’s standard payment schedule before you accept the job offer. If they pay hourly or piece-rate work on a daily basis, then your pay cycle is probably set at weekly (or even daily).
If you get paid once every two weeks instead of once per month, then it’s almost like having an extra paycheck every month without actually getting one—you just have to wait until payday comes along again! The same goes for employees who are paid hourly and receive checks at least twice per month but not more than four times per year; these people have shorter pay cycles than those who receive their checks once every two weeks or twice each month (depending on whether they work salaried jobs).
Electronic Direct Deposit Payroll
If you’re paid via direct deposit, your pay stub will show your account information and routing number. This means that you can have your money transferred to a bank account or credit union account of your choice. When an employer uses electronic direct deposit payroll, it can be processed within 24 hours of the payday being issued.
Banking Rules and Delays
It’s easy to think of banking as a simple transaction of money from one party to another, but the process is actually much more complicated. There are two other things that can happen at this point:
- The check may be deposited in another bank account later that day (it depends on where you live). In this case, it would still take five days for the funds to show up in your account because they wouldn’t make it until Monday morning.
- Or there could be a delay in processing because something goes wrong with either the payment itself or how it gets deposited into another bank account, which would delay its arrival even longer (again, depending on where you live).
We hope you’ve gained some insight into the process of getting paid early and the different ways to do it. Some companies offer direct deposit payroll right away, while others have a more standard pay cycle. For those who don’t have access to electronic direct deposit or want their checks sooner than later, banking rules can be tricky.
