Direct Deposit
Make your money move faster. Skip the paperwork and lengthy wait times - set up your direct deposit in digital banking and manage everything in seconds.
Perks of Direct Deposit
You have the flexibility to choose where your money goes (options include checking, money market, Regular savings, and additional savings) and how it's disbursed. Whether you want your entire payment deposited to your checking account or split between checking and savings, the choice is yours.
Plus, you can earn higher rewards when you add direct deposit to your account:
How Much Can You Earn?
| Member Rewards with Direct Deposit | Member Rewards without Direct Deposit | |
|---|---|---|
| ATM Rebates | Get up to $20 per month on withdrawal fees if you use a PSECU debit card at an out-of-network ATM and get charged. | Get up to $8 per month on withdrawal fees. |
| Debit Card Rewards | Earn $0.10 cash rewards1 on eligible purchases when you have one or more qualifying monthly direct deposit(s) that total at least $500. | Earn $0.05 cash rewards1 on eligible purchases. |
| Founder’s Rewards Card2 | Earn 2% cash rewards2 on everyday purchases. | Earn 1.5% cash rewards2 on everyday purchases. |
1 You can earn $0.10 cash rewards on eligible purchases of $10 or over with a PSECU checking account and one or more qualifying monthly direct deposit(s) totaling at least $500. You can earn $0.05 cash rewards on eligible purchases of $10 or over for accounts with a PSECU checking account. Certain restrictions may apply. See the Visa® Debit Card Rewards Program Terms and Conditions for full details.
2 You can earn 1.5% cash rewards on purchases. You can earn 2% cash rewards on purchases if you maintain a PSECU checking account and qualifying monthly direct deposit(s) of at least $500. Some exclusions may apply. See the Visa® Founder's Card and Visa® Alumni Rewards Card Rewards Program Terms and Conditions for full details.
1 You can earn $0.10 cash rewards on eligible purchases of $10 or over with a PSECU checking account and one or more qualifying monthly direct deposit(s) totaling at least $500. You can earn $0.05 cash rewards on eligible purchases of $10 or over for accounts with a PSECU checking account. Certain restrictions may apply. See the Visa® Debit Card Rewards Program Terms and Conditions for full details.
2 You can earn 1.5% cash rewards on purchases. You can earn 2% cash rewards on purchases if you maintain a PSECU checking account and qualifying monthly direct deposit(s) of at least $500. Some exclusions may apply. See the Visa® Founder's Card and Visa® Alumni Rewards Card Rewards Program Terms and Conditions for full details.
How to Set Up Direct Deposit
Setting up direct deposit with PSECU is quick, secure, and easy. And the best part? There’s no paperwork needed and there’s no cost to you. Simply log into your PSECU account in digital banking (or sign up if you don’t have digital banking yet). Once logged in, go to the menu in the top left corner and click Account. Then, select Direct Deposit and follow the prompts to start your setup with Pinwheel.
Here’s how you do it:
You’ll need your employer’s name and your payroll account credentials like your login information from your payroll provider.
- Select your employer. Search for your employer from the Pinwheel database, which has over 1 million options.
- Log in securely. Enter your payroll account credentials to securely connect your payroll information with PSECU. Don’t worry, this process is safe. Pinwheel takes security just as seriously as we do. From the moment you enter your payroll details, your information is protected with top-notch security. This step makes sure that your paycheck goes to the right place.
- Confirm your details. Choose where your money should go and how much of your paycheck you want directly deposited (full or partial paycheck) and the share(s) you want your funds deposited to - checking, Regular savings, additional savings, money market, or a combination, whatever works best for you.
Direct deposit typically becomes effective within one to two pay cycles, depending on your employer’s processing time.
It’s important to note that your information is protected throughout the process, ensuring that your direct deposit is set up both securely and privately.
Open an account to get access to everyday perks, and after a quick application process, you’ll be on your way to a better banking experience. Members achieve more.
Browse Common Questions
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Pinwheel is a third-party application vendor that we’ve collaborated with to provide you with a digital, paper-free way to manage your direct deposit. Pinwheel connects to over 2 million employers and 1,800 payroll providers, covering 85% of the U.S. working population. We’re always looking for ways to enhance your digital banking experience, and with Pinwheel, we’re able to offer you an easy and secure way to set up, switch, or update your direct deposit directly from your PSECU account in online banking or the mobile app.
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We make your deposited funds available to you on the same business day that we receive your deposit. Once the funds are available, you can withdraw them or access them in digital banking.
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We get it. All this jargon is similar, so it can be confusing to know what each term refers to. So, let’s break it down:
- Payroll deposit: A payroll deposit typically refers to an employee’s entire paycheck being sent to an account at a financial institution. It’s the full amount of your earnings.
- Payroll deduction: This term describes when a portion of a paycheck is automatically allocated for specific purposes like tax deductions, retirement contributions, health insurance, or other benefits. These amounts are taken out of your gross pay and sent directly to the appropriate agencies.
- Direct deposit: On the other hand, “direct deposit” is a broader term that covers any amount of money from any source that’s electronically deposited into an account. These could be payroll deposits, tax refunds, government benefits, or other payments.
It’s important to note that while our Pinwheel service - what we call direct deposit service - is designed to handle payroll deposits, it can’t be used for non-payroll deposits such as tax refunds. For those types of deposits, you’ll need to set them up directly with the issuing agency.
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You have complete control of where your direct deposit will be distributed and how much you want directly deposited - full paycheck or partial paycheck. You can choose to deposit your full paycheck into one account, or you can split it between multiple accounts. For example, you can allocate a percentage to your checking account and another portion to your savings share or money market account.
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While Pinwheel is designed specifically for payroll deposits, other non-payroll deposits may need to be set up separately with the respective provider. Non-payroll deposits may include tax refunds, government benefits, dividend payments, pensions, annuities, and child support.
Achieve More with PSECU
More gimmes + less gotchas = modern digital banking. Become a member today, and let your money live in the 21st century.