So Chime is implying they will release it two days before the release date, but this only applies if the transfer has occurred by then.Bear in mind that the amount of extra time is not guaranteed. They provide that extra time, because they want to be sure that even if there’s some kind of delay in processing the direct deposits, the employees will still receive it on the specified release date.Normally, the receiving institution will not credit the customer’s account until the release date, in part, because there can be corrections submitted, which if they are made timely, the receiving institution is liable for.What banks like Chime are doing is they are crediting the customer’s account without waiting for the release date. In other words, if they specify a release date that is the 15th of the month, they may order the transfer to be done on the 11th or the 12th of the month.

Companies will often have the direct deposit transmitted a few days before the release date.

They will set up a batch direct deposit order containing the information pertaining to each employee, specifically including the routing number and the account number, and of course, the amount.The company will instruct their bank to process this direct deposit order, which involves doing transfers for each employee over the ACH network based on the routing number.In addition to the routing number, the account number, and the amount, there will be a “release date”. Ok, let’s take this slowly.A company prepares a payroll for direct deposit.

Chime direct deposit enrollment form