Direct Deposit not instantaneous?

So I was so excited to finally move on from Simple with my first direct deposit on Thursday morning! Alarm went off at 5am and just like Christmas morning I saw the Envel logo with a message! It said I had received a direct deposit from my employer (yay!) I kept reading and it said that it will be available in several days… wait… what??? No no, something is wrong… it used to be in my simple account between 2-3 am on payday, not “several days” later! (Still has not cleared yet btw, grrrrr)
In all my banks (4 besides Envel) I ALWAYS had my direct deposit the day it was sent, hence the use of the word “instantaneous”.
So I got a chat back from support and was referred to the two help articles that I have already read like 5 times… is it really the case that with a fintech bank that uses AI, that I cannot get my direct deposit on the same day just like EVERY OTHER BANK I have ever used?
Does anyone else get their direct deposit instantly? Am I the only one that has a wait?
I am sorry but I have child support payments and mortgage payments that must go out on time and I cannot be waiting 2-3 extra days for my paycheck.
This will be a dealbreaker.
Please, someone clear this up!
Btw… I got the notice like a hundred times! Haha

Hey Vinny,

I am so sorry that this has caused you stress! At the moment, direct deposit takes between 1-3 days to hit your account. We are working to incorporate same-day transfers, but it may take some time as there are more logistical delays that we expected, especially with our banking partner.

I logged the repeated notifications as a bug to the team, thank you for the heads up. For now I suggest either planning ahead so that you are not in a bad financial situation if the deposit takes an extra day or so, OR doing direct deposit to your external bank account, and then doing a push transaction from that account into Envel (which typically take 1 day, 2 at the most). I realize that neither of these options are ideal, and will keep this forum posted on our progress towards quicker transfers.

I hope this was helpful, and again I truly apologize for the delay!

Best,
Jacqui

Thank you for the reply!
Ok so I guess I can just deal with it… what happens in a case like this… I got paid Thursday but it has not cleared today (Saturday) so does that mean I have to wait until Monday? That would be 5 days after my normal pay date. What about holidays?

Hey Vinny,

It should get there by tomorrow at the very very latest. If it does not, please let me know and I will flag to the team Monday morning as top priority! Again, apologies for the delay and for any frustration this has caused.

Best,
Jacqui

Ok thank you. I suppose it will be a similar delay each time? Like a consistent delay? I can work with that if it’s the case. Thanks again for your kindness and consideration. You are single handedly keeping my business!

Vinny, direct deposits usually take 12 hours but it depends on the sending bank and can take up to 3 days. So yes, this will be consistent :slight_smile:

Thanks again for the reply! However this one is taking 100hrs and still counting. As of Monday 6:50am I can see the deposit but it’s still pending. Help! I’m not angry just concerned. Highly concerned! Haha!

Oh wow! That’s definitely not good enough! Will look into it :slight_smile:

Hey Vinny,

I am copying our technical team (the engineers) on your tickets so that they can look into this for you. Apologies again for the delay, and we really appreciate your patience.

Best,
Jacqui

Thank you! I suppose while you are at it, can you check on another deposit I made the day before? I made a 1500 pull from my bank as well that shows up but has not cleared.
Thank you so much!

Hey Vinny,

I don’t have access to your transaction data unfortunately, but I will add a note to your ticket so that a member of the technical team can have a look! What other transaction(s) did you want us to check on?

Best,
Jacqui

That’s it! Just those two… I know the bank transfer works because I did it once before I believe. However it never took this long.

Gotcha, thank you! If you don’t receive a reply by tomorrow from the technical team, let me know and I will re-flag it to them!

Best,
Jacqui

I’m sorry, can we get some clarification?

For payday, we can expect same day funds to hit our account, but it’s not for sure as it could take up to additional 12 hours?

Can you guys please fix this? I expect my money to hit my account just like it were to hit any bank account. Anything else is unacceptable and I won’t be switching until then.

1 Like

So far no money and no contact.

Hey Vinny,

Just message our entire user support team. Someone should be looking into it ASAP. Let me know if you haven’t received a reply in the next hour.

Best,
Jacqui

Hey Vinny!

Several members of our support and technical teams looked into this for you yesterday. Let me know if you didn’t receive a response, or if you still have unresolved issues or concerns!

Best,
Jacqui

Looks like it has worked after resetting g autopilot!
I guess all I have to do is refresh AI when I see the transaction appear in my account?

I have 2 questions now:

  1. As I transfer money into Envel from my other bank, will AI think I make a lot more money than I normally do? How does it know what is a paycheck and what is a transfer? (Maybe it does not care?)
  2. Does AI fill up my Bills envelope until it can cover my bills, then cash, then vault? Is there an order it uses?

Side comment: I have decided to use Venmo for all my recurring bills and connected it to my bills envelope. If I understand it correctly, Venmo will automatically pull money as needed to cover any deficit in my Venmo balance (which is zero). Hopefully that is a foolproof method to find my bills and make sure the transactions always come out of bills and not cash.

Thank you ALL for your help! Hopefully this all works out!

Hey Vinny,

For now, until we get the bug fixed, yes. Refreshing the AI always helps!

To answer your questions

  1. While the AI does monitor you deposits, it calculates your income based on what you have entered in the sliders ( the “income” slider). So no, the AI will not mistake your deposits as additional income if they do not match up with the income amount you have entered.

  2. Bills are covered first, followed by a distribution between cash, vault, and emergency fund.

That is correct about Venmo! We haven’t seen any issues with users paying recurring Bills through Venmo, but please do keep us posted if you run into any issues.

Of course! Thank you for your feedback and patience.

Best,
Jacqui

Well Jacqui, I hate to say it but the direct deposit gremlin strikes again! I was paid on March 25 and I STILL have a pending notification 11 days later. It sucks because when autopilot does not see income it does not redistribute money to my bills… so I have to turn it off and then back on to replenish bills. Kind of eliminates the “auto” in autopilot. Last paycheck the funds showed up same morning like my old bank, Simple. I guess I just do not understand what’s going on, why is Envel so full of bugs? Also… may I have my money? I do not even know how to tell if it’s in my bank or not because every time I toggle autopilot it moves money around… I do not know which way is up or down anymore! I have been very supportive of Envel and been telling my students about this awesome bank but if I keep having to deal with bugs I may just go with a bank that has their ducks in a row. I’m getting really frustrated.