Set up direct deposit

Note: This support article only applies to Individual and Joint Cash Accounts with checking features.

Overview

To switch your direct deposit to Wealthfront, share this info with your employer or payroll service provider:

• Your name: Please provide your full legal name on file with Wealthfront

• Account type: If you’re asked to choose between savings and checking, please choose checking.

• Your routing and account numbers

You may need to provide the name and address of one of our program banks. To view that, go to your Cash Account and select Manage > Direct deposit information.

If your employer or payroll provider requires a Wealthfront form to make this change, you can download a copy directly from the Manage page from our website or mobile app.

How long does it take to complete the switch?

Once you switch your direct deposit to Wealthfront, it can take your employer anywhere from a few days to several weeks to complete the switch. To get a clearer sense of the timing, ask your employer what to expect.

If you get paid before the switch is complete, your employer will either direct-deposit your paycheck to the account you were using before the switch, or they’ll give you a paper check.

If you end up with a paper check during the transition, please deposit it into your old account, then transfer the funds to Wealthfront. While we do support mobile check deposits, one of the current eligibility requirements is that you've already direct deposited to us. Learn more

When will my paycheck arrive?

If you are using account and routing numbers provided by Green Dot, your paycheck may arrive by 6:00am PST, up to two days before your usual payday. The exact timing ultimately depends on your payroll service provider. 

If you are using account and routing numbers provided by UMB, your paycheck should typically arrive on your usual payday. The exact timing ultimately depends on your payroll service provider. 

If the date of your direct deposit falls on a weekend or bank holiday, it will typically arrive on the next business day.

Will you put a hold on my direct deposit?

Nope! The moment we receive your deposit, you'll have full access to your money, and it will immediately accrue interest.

Can I direct-deposit my partner’s paycheck?

No, sorry! We can only accept direct deposits that are in the account holder’s name.

What other types of payments can I direct-deposit?

Direct deposit isn’t just for paychecks from your employer. You can also direct-deposit the following:

• Tax refunds: Direct deposit is the fastest way to get your tax refund. For more info, check out the IRS’s handy guide.

• Social Security benefits: To set up direct deposit for your Social Security benefits, head over to Go Direct or call 1 (800) 333-1795.

• Child support: To set up direct deposit for child support or maintenance, get in touch with the state department that’s coordinating these payments.

Note: Wealthfront Cash Accounts cannot receive payments on behalf of businesses, including payments coming from government sources. (e.g. Paycheck Protection Program (PPP) loans from the US Federal Government).

Troubleshooting my direct deposit

Still waiting on a paycheck? Get in touch with your employer to make sure they sent your paycheck on time and that they have the right routing and account numbers on file.

If everything is in order on your employer’s end, please email us at support@wealthfront.com. We’ll ask you for the name of your employer and the exact amount you’re expecting, then we’ll work with you to troubleshoot the issue.