Direct Deposit vs. Money Network for EDD payments - which is faster?

I switched to direct deposit back in February and it's been MUCH faster than the Money Network card. I certify Sunday morning around 8am and the money hits my account by Monday afternoon most weeks. Once in a while it takes until Tuesday morning, but never longer than that. Just triple-check your account number and routing number when you set it up - I made a typo the first time and it delayed my payment by 3 weeks while they sorted it out!

direct deposit is the way 2 go for sure. money network is trash. my roomate still uses the card and is always waiting for $$ while mine comes way faster. just my 2 cents

I've had both and honestly it depends on your bank. With Bank of America direct deposit, I get paid Tuesday after certifying Sunday. With Money Network, I could transfer instantly to my B of A account but they'd hold it for 2-3 days anyway. Chase and Wells Fargo friends say direct deposit is faster for them though.

The Money Network to direct deposit debate really depends on your specific situation. The Money Network card technically gives you access to funds faster since the money is loaded to the card as soon as payment is processed (often Sunday night/Monday morning). Direct deposit has an additional step where the payment is sent through the ACH system to your bank. That said, if you're transferring FROM the Money Network card TO your bank account anyway, direct deposit will almost certainly be faster because you're eliminating that middle step. Just be extremely careful when entering your account information - one wrong digit in your account number or routing number will cause significant delays. Also, with direct deposit you can change your information online through UI Online, but there may be a verification period. The system makes you verify a micro-deposit to confirm the account is yours before payments will start going there.

i tried to call EDD to ask this SAME QUESTION last month!!! was on hold for 2 HOURS and then got disconnected!!!! TWICE!!!! their phone system is the WORST!!!!

When I switched to direct deposit last year, it took about 10 days for the change to take effect. The first payment after I made the switch still went to my Money Network card, then the next one went to my bank account. Just something to keep in mind - don't close or empty your Money Network account immediately after requesting the switch. As for timing, I certify Sunday mornings and my payment hits my credit union account on Tuesday morning like clockwork. It's been much more consistent than the Money Network transfers were.

I'm probably in the minority, but I actually prefer the Money Network card. I like being able to use it directly for purchases without waiting for a transfer. Plus I've had issues with my bank putting holds on government deposits before. With the card, I know exactly when the money is available. That said, if you're transferring to your bank anyway, direct deposit probably makes more sense for you. Just be aware that some banks do put holds on ACH deposits, especially government ones, so check with your credit union about their policy.

One more thing to consider: if you ever need to call EDD about payment issues, they can see the status of direct deposits more clearly than Money Network transfers. This makes troubleshooting easier if a payment gets delayed. With Money Network, they sometimes just tell you to contact Money Network customer service, which is another layer of complexity. The trade-off is that if there's a problem with your bank information, direct deposit issues can take longer to resolve. But in normal circumstances, direct deposit is generally more reliable and potentially faster, especially if you're transferring to your bank account anyway.