If you are waiting to receive the direct deposit credit in your NetSpend account, you may have the question as to how long does NetSpend take to process a Direct Deposit.
This is especially with the claims of getting paid up to two days early with direct deposit for payroll. Your patience is always tested when waiting for your funds.
While Direct Deposit is definitely one of the faster ways of getting a payment received, you will see a flood of questions by users on what time will they receive direct deposit.
There is a reason for this as most often there is a lack of clarity on the payroll back-end process.
Contents
How Long Does Netspend take to process Direct Deposit
NetSpend usually processes the direct deposit on the same day they receive the payroll file from your employer that includes your NetSpend routing number and account number (that you submitted to your payroll department when you set up the direct deposit).
Since this day could vary as it depends on when the employer submitted the payroll file to NetSpend
Factors like the time and day when this file is received i.e. if it falls on a weekend can also have an impact on the time for NetSpend to release this payment. NetSpend will process the money based on this file and get reimbursed on payday.
Usually employers submit the payroll file two days before the payday to allow sufficient time for processing at their bank’s end (we are talking about the Employer bank’s here).
The early direct deposit players like NetSpend, Chime, and many others will usually front end this payment in good faith, thereby cutting the standard 2 day processing time.
Here is one of the official responses of NetSpend on this point:
Netspend gives you access to your money as soon as the funds are electronically deposited to your card account – that can be up to 2 days faster than you’d expect. Please note, that your card account must be active (that is, a purchase, load, or cash withdrawal has occurred, or a balance inquiry fee was incurred over a 90-day period) and in good standing in order for electronic direct deposits to be credited to your card account.
Processing of a direct deposit requires that there should be no name discrepancy i.e. the name associated with the direct deposit be the same as the name associated with the card account.
What about the processing time for other kinds of direct deposits with NetSpend
If you are talking about direct deposits for other credits like Social Security benefits etc. NetSpend has a monthly blog post on their website that gives an estimated schedule on the direct deposit processing time and expected day for the different benefits
When does NetSpend direct deposit hit? What time
As said earlier, there is no fixed time when your direct deposit will hit as NetSpend depends on external inputs i.e. specifically when the payroll file is submitted and the time and day when this is received, which can impact the day when the credit is finally released.
Generally, when you see a trend of being
The timing of direct deposit is affected by:
- Date when payroll file is submitted by the employer
- The time when the data is received by NetSpend (e.g. if late night it may go to the next day)
- The day when the data is received by NetSpend ( e.g. if the day falls on a holiday, it can delay)
Does NetSpend process the direct deposits on weekends?
NetSpend does not usually post the direct deposit on Federal Holidays and weekends i.e. Saturday or Sunday.
However, there have been instances where the users have reported receiving the credit even on weekends. So it cannot be ruled out and things depend more on when the file is initiated by your employer and received by NetSpend.
Wrap Up
The time taken by NetSpend to process a direct deposit depends a lot on external factors. It is not straightforward as it looks in getting the final payment released. It is important to note that the promise of getting paid up to 2 days before payday with direct deposit, is on a best effort basis.
