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Paycheck Question

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GatorBoy44

Registered User
So I am expecting my first paycheck on April 1st, for you who have been getting paid by the navy for some time, how does it work when the 1st of the month falls on a Saturday (a day banks are closed)? Should I expect a deposit tomorrow or on Monday? Just curious.
 
Fly Navy

Fly Navy

...Great Job!
pilot
Super Moderator
Contributor
GatorBoy44 said:
So I am expecting my first paycheck on April 1st, for you who have been getting paid by the navy for some time, how does it work when the 1st of the month falls on a Saturday (a day banks are closed)? Should I expect a deposit tomorrow or on Monday? Just curious.
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Pay periods, contrary to popular belief, are the 15th and the last day of the month. I actually got paid today.
 
T

trvsmrtn

Registered User
pilot
Yeah, when your paycheck actually hits your bank can vary depending on your bank. I had Compass for a month and if payday was a Friday, my money wasn't available till Tuesday morning. Needless to say, I don't bank with Compass anymore. With Navy Fed, if payday is on a weekend, my money is there Thurs night at 11pm (only good thing about central time). If payday is a Monday, my money is there Friday night at 11pm.

I remember many broke nights as a lowly E1 sitting at the ATM, watching the clock and waiting for midnight, when my paycheck would be there so I could go out, lol.
 
2sr2worry

2sr2worry

Naval Aviation=world's greatest team sport
Fly Navy said:
Pay periods, contrary to popular belief, are the 15th and the last day of the month. I actually got paid today.
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Put down that cereal box and get your history lesson for the day. Go outside, look at the flag sitting there at half-mast, and reflect on "Cap the Knife's" big bright idea to shift payday from the 15th and the last day of the month to the 1st and the 15th so $2B in payroll bills would roll to a new fiscal year. That's one of Secretary Weinberger's legacies.

Pay is simple. 1st and 15th...if either falls on a weekend or holiday then back up to the last workday and that's when it's targeted to hit your account via EFT. Sometimes...it hits a day early (which is really foolish on Uncle's part since he's eating a day's interest on borrowed money for no good reason).
 
Fly Navy

Fly Navy

...Great Job!
pilot
Super Moderator
Contributor
2sr2worry said:
Pay is simple. 1st and 15th...if either falls on a weekend or holiday then back up to the last workday and that's when it's targeted to hit your account via EFT.
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Oh? Explain End of Month pay on the LES then.

Welcome to the forum by the way, worked on A-7s?

Edit: Ok, did some snooping, seems it is 1st and 15th, which is weird as my pay has always always always been targeted at the last day of the month. I always receive my pay the day or two prior to the last day of the month.
 
T

trvsmrtn

Registered User
pilot
End of month pay is paid on the first of the following month. That is a nice history lesson though.
 
usnphoenix

usnphoenix

Remove before flight
pilot
End of the month pay is supposed to be on the 1st but if you have USAA its usually in there and accessible a day or two early.
 
Fly Navy

Fly Navy

...Great Job!
pilot
Super Moderator
Contributor
usnphoenix said:
End of the month pay is supposed to be on the 1st but if you have USAA its usually in there and accessible a day or two early.
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Hence me thinking that it's end of month, not the 1st. I've never ever been paid on the 1st.
 
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