Is there a 2 day early pay day with direct deposit
Not currently, but it’s a feature we can add to our roadmap!
Welcome to our forum, and we look forward to hearing from you.
Jacqui + the Envel team
This is something else I’d be interested in
While I’m not a firm supporter in this, I get everyone’s needs are different so I was wondering if anyone could share the benefits of early payday? I know it includes getting paid once the bank receives the deposit (not when the bank is instructed to post it) but I always thought since the frequency would still be the same, it wouldn’t really make a difference being the time period between each payment is the same regardless on what day it posts.
For those that would desire early payday, in the meantime I’d also suggest using apps like Earnin or DailyPay, both let you take out a portion of your paycheck with no interest. I’ve used them when unexpected expenses come up for me.
Thank you Ryy, I’d love to hear more about what people think the pros and cons are! Personally I don’t want to dip into my paycheck before payday, but I completely understand that everyone’s needs are different. In general, we are looking to incorporate more options for users to customize their Envel account!
It’s just a neat feature that if you guys detect a pending deposit from an employer, that we have access to the funds right away, knowing on your end that the direct deposit will clear, as it’s coming from an employer.
That’s my two sense, take it or leave it. I know USAA, and a couple other banks gives you access to the funds as soon as a direct deposit is pending.
That does sound like it would be reassuring! I will make a note of it, we have a lot of exciting features on our roadmap, but I think this could definitely be a nice benefit for users
Right on. Any inside information on when we can expect the next update?
Update is currently being reviewed by the app stores, we’re waiting patiently
From now on we’ll send out update to all users, wefunder, community forum, website and social channels every time when a new app update is released.
I use this occasionally with my current bank, I’m splitting my direct deposit with Envel now. I normally only use it if something crazy comes up, or something is due right before payday. Due to COVID, some things have been crazy for people, so I understand the desire for this, and would love it.
Glad to hear you’re splitting your direct deposit, Xander! Exciting! Will note the early payday request! Keep the feedback coming