WSFS Bank launches Early Pay

Wednesday 17 April 2024 13:57 CET | News

US-based WSFS Bank has rolled out Early Pay, enabling customers to receive eligible direct deposits early.


WSFS Bank has rolled out Early Pay, enabling customers to receive eligible direct deposits early.

WSFS Bank, the main subsidiary of WSFS Financial Corporation, has introduced Early Pay, enabling customers to receive eligible direct deposits from their employers and recurring government benefits, like Social Security payments, up to two days in advance.

Customers already enrolled in direct deposit for their paycheck or recurring government benefits will receive funds up to two days early when connected to their WSFS personal checking, savings, or money market accounts. The direct deposit must be to a WSFS Bank personal account and indicate that it is a payroll or recurring government benefit in the Automated Clearing House (ACH) description. There are no costs or fees associated with Early Pay, and Customers can also set up alerts in online banking to be notified when their deposit is available.

Officials from WSFS Bank said they’re happy to be able to offer Early Pay to their customers to help streamline their eligible direct deposits and enable them to access funds sooner. The company’s clients’ needs continue to evolve over time and so does WSFS. They’re happy to continue offering products and services to help their customers access their funds quicker and tools that make banking easier.

What does WSFS Financial Corporation do?

WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is one of the oldest and largest locally headquartered bank and trust company in the Greater Philadelphia and Delaware region.

As of December 31, 2023, WSFS Financial Corporation had USD 20.6 billion in assets on its balance sheet and USD 78.1 billion in assets under management and administration. It provides comprehensive financial services including commercial banking, consumer banking, treasury management, and trust and wealth management.

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Keywords: product launch, ACH, online banking
Categories: Banking & Fintech
Companies: WSFS Bank
Countries: United States
This article is part of category

Banking & Fintech


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