Now when you set up direct deposit into your Cape Cod 5 account, you can get early access to your paycheck. There is no enrollment required and no cost to you – we’ll make your money available once we receive it, up to two days sooner.*
Qualifying payments include payroll, pension, government benefits and tax refunds. Start receiving your pay sooner with Early Pay!
Early direct deposit is a service offered by Cape Cod 5 in which your eligible direct deposit may post to your account up to two days early. If you already have an eligible direct deposit set up with your Cape Cod 5 checking or savings account, you are automatically enrolled. If you don’t already have direct deposit set up, you must do so in order to receive early access to your funds.
No, you are automatically enrolled if you have a qualifying direct deposit set up to pay into your Cape Cod 5 checking or savings account.
Payroll companies, pension providers, government benefits such as Supplemental Security Income and Social Security, and Department of Revenue (tax refunds).
Direct deposit can take 1-2 pay periods to take effect, depending on your employer or payment provider. Once Cape Cod 5 receives the funds, we’ll make yours available, up to two days early.
It depends. You might receive your payment two days early, one day early, or on your regularly scheduled payday. Some factors that may impact how early your pay is available include:
You recently set up direct deposit.
Your deposit wasn’t sent early by your employer or payer or there’s a payroll system issue from your employer or payer.
Your deposit type is not eligible, such as a bank-to-bank transfer.
*Early direct deposit is a service that comes with your Cape Cod 5 checking or savings account if your paycheck is direct deposited into a Cape Cod 5 account. Early access to direct deposit funds depends on the submission of the payment file from the payor, which may be UP TO two days earlier than the scheduled payment date. Funds post Monday-Friday only. Eligible direct deposits are recurring paycheck, pension, Social Security, or other eligible monthly income electronically deposited by an employer or outside agency through the Automated Clearing House (ACH) Network into your consumer checking or savings account that do not exceed the bank’s maximum amount for early access. All eligibility is at the bank’s discretion and activation may take up to 60 days. Early access to funds is not guaranteed. Bank is not liable if we do not receive files and fail to deposit funds to your account early. Always verify funds before writing checks or authorizing withdrawals.
