Direct deposit has gone from being a cutting-edge feature to the default for most workers and employers, and it’s no surprise why. It eliminates the hassle of cashing your check at the bank. Instead, your employer pays you electronically and the money is deposited directly into your bank account. With Marygold & Co.’s early direct deposit, you can get your money up to two days earlier than traditional banks. We make sure to process your deposits as soon as they arrive, which means you’ll most likely have access to your hard-earned money earlier than the scheduled payday.

Benefits of Direct Deposit
When you set up early direct deposit, there are a few advantages that put you ahead of everyone else (other than just getting paid two days earlier):
Early Access and Increased Accessibility
Setting up this feature not only saves time, it is so much more accessible. Since funds are electronically transferred, they are automatically credited.
Gone are the days of waiting for a check to clear.
Direct deposit, along with the rise of banking technology allows you to get your money deposited without having to physically run to the bank.
Some fintech apps, like the Marygold & Co. app, provide you with direct deposit up to two days earlier*, as well as access to all banking features through your phone.
This means your money is always with you wherever you are!

Pay your Bills on Time and Save More
Another bonus is that it takes away the stress of making sure you deposit your check in time to ensure your bills will be paid on time.
Using an account with early direct deposit can give you extra time to pay monthly bills such as rent and utilities.
Not only can you access your paycheck earlier but you can also receive your tax money up to two days early*, before it’s available at traditional banks.
Yes, we’ve concluded that it is an easy way to avoid missing out on payments, but it can also help you save more efficiently.
The Marygold & Co. interest-earning feature called ‘Money Pools‘ can be set up simultaneously with this feature to ensure that you get closer to your savings goals with each payment. You can customize this feature to have a percentage or specific amount of your paycheck deposited directly into your “Money Pool” savings account and start earning interest on your money while building your savings.

Safer Than Paper Checks!
Using online banking and perks such as this one can trigger concerns about safety.
However, direct deposit is considered much safer than being paid through check. Paper checks can easily be lost, stolen, or fraudulently cashed.
With this feature, your money is automatically transferred from your employer’s account into the bank account you choose.
The biggest hazard is ensuring your account information goes to someone you trust.
How Does Direct Deposit Work?
To start the process, your employer’s HR department or the payroll company your employer utilizes submits payroll files – which contain account information, to their bank, which then sends the data to an Automated Clearing House (ACH). A bank-to-bank electronic transfer takes place once the HR department receives account information, and the money is then deposited into your account.
Direct Deposit with Marygold & Co.
More than 93 percent of U.S. workers receive their pay by direct deposit, according to the 2019 survey “Getting Paid In America”. Direct deposit has become the standard for most workers and employers and with Marygold & Co., you can receive your money up to two days early! Marygold & Co. is a free and FDIC-insured banking and financial services app that allows customers to send, receive, spend and save money safely through their mobile devices. Using early direct deposit, along with other Marygold & Co. features will make your finances easier and more convenient to manage.
Redefine the way you bank and join our waitlist.
*Early access to direct deposit funds depends on timing of payer’s submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer’s scheduled payment date.