TD Early Pay

[SouthJamaica]

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@Horseshoez wrote:

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@The_Banker wrote:

Citizens Bank offers Early Pay and has branches in NH.

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Thanks, I looked over Citizens offerings and while some of them are interesting; their Citizens Quest Checking appears to be a virtual clone of the TDBank Beyond Checking account I've been using for four years now.  Nice to know there is an option to TD if my relationship with them sours, but I find that highly unlikely, they've been very good to me.

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It's funny how we all have different experiences with different institutions. I've noted on multiple occasions your satisfaction with TD Bank. I on the other hand always found them to be crummy.

[Horseshoez]

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@SouthJamaica wrote:

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@Horseshoez wrote:

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@The_Banker wrote:

Citizens Bank offers Early Pay and has branches in NH.

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Thanks, I looked over Citizens offerings and while some of them are interesting; their Citizens Quest Checking appears to be a virtual clone of the TDBank Beyond Checking account I've been using for four years now.  Nice to know there is an option to TD if my relationship with them sours, but I find that highly unlikely, they've been very good to me.

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It's funny how we all have different experiences with different institutions. I've noted on multiple occasions your satisfaction with TD Bank. I on the other hand always found them to be crummy.

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Yeah, I've noticed that as well.  I suppose it could be the individual branches; I use three here in New Hampshire on a somewhat regular basis and the staff has always bent over backwards to accomodate my every request.  My wife and I are house hunting in the Gaithersburg, MD area and when we move, if I'm not a fan of the branches down there, I may shop around.  The closest financial institution to the community we're trying to buy into is CapitalOne; not a huge fan of them, but that is certainly one option.

[CreditCuriosity]

I guess I don't understand purpose of early pay..  It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

[Horseshoez]

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@CreditCuriosity wrote:

I guess I don't understand purpose of early pay..  It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

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What makes you think I don't understand?

[SouthJamaica]

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@CreditCuriosity wrote:

I guess I don't understand purpose of early pay..  It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

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Think of each deposit as having an interest-free 2 day loan attached to it.

That could be worth something to some folks.

There is a time value to money. And I would rather have the money in hand than have it floating around somewhere in banking channels.

[CreditCuriosity]

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@Horseshoez wrote:

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@CreditCuriosity wrote:

I guess I don't understand purpose of early pay..  It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

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What makes you think I don't understand?

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Didn't say that..  Just silly banks including mine offer it, but doesn't mean it really is anything just advances your payday two days early and as mentioned equals out to zero after the first time used.  I guess one can think of it money interest free for two days and mentioned above this reply.  Just a fimmick imho whatever bank it is.

[sznthescore]

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@CreditCuriosity wrote:

I guess I don't understand purpose of early pay..  It might help once if one is in a money situation, but after that your pay check just essentially gets there two days earlier and one gains nothing off that instead of say friday your payday is Wednesday now.

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For me I look at it as.... "It's my money and I want it now!".  

Pay period ends on Saturday;

Sunday; approve time card (digitally)

Monday; last minute adjustments before 11am

Tuesday; payroll is batched

Wednesday; funds in my account as opposed to Friday.

Two extra days of waiting for what 🤷🏽‍♂️

[FicoMike0]

I too like being paid sooner rather than later. Here's citizens offer

https://www.citizensbank.com/promo/checking/special-offer-2024-a2.aspx

Showing my age, I remember being paid through Saturday, in cash, on Saturday. I worked in a grocery store no one heard of in most of the country these days. Those in the North east may know it. Hint, they were once the largest grocery chain in the US and the largest retailer in the world.

[Horseshoez]

A&P?

[FicoMike0]

You got it! How the mighty have fallen. I remember once the Folgers rep pointed out what it said in the fine print on the a&p instant coffee, "a&p tea co importer, roaster, manufacturer, retailer". Talk about vertically integrated. He said Folgers bought most of their beans from a&p.