Direct Deposits are defined as: Recurring Automated Clearing House (ACH) credits, including payroll, pension or government payments (such as Social Security) made by your employer or an outside agency. Direct Deposits do not include peer to peer payments, transfers from one account to another, cash advances, ATM deposits, or wire transfers. Transaction codes are set by payor and business-to-business, and business-to-contractor may be excluded, dependent on the transaction code set by payor.
What is Direct Deposit?
Last Updated June 17, 2025less than a minute read
Additional Money In FAQ
- How do I link an external account?
- What happens after I link accounts?
- How do I manually verify an external account?
- How can I set up a Direct Deposit?
- How do I use the Mobile Deposit feature?
- What is a wire transfer and SWIFT code?
- How do I add more funds to my checking account?
- What are the domestic wire instructions to send a wire to a LendingClub account?
- What is the incoming international wire process?
- Do I give LendingClub 100% of my paycheck?
- When setting up Direct Deposit, what credentials should I use when connecting with my payroll provider?
- Can I set up Direct Deposit for more than 1 checking account?
- Where can I deposit cash into my checking account?
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Related FAQ's
This page explains how to link an external account.
Depending on the linking option you choose, we might need to send 2 micro-deposits to the new external account to verify ownership. These micro-deposits typically take 3-5 business days to deposit in your bank account.
If you received two micro-deposits, you’ll need to verify them. To verify the micro-deposits, check your external account and note the two deposit amounts
You can add funds to your account through your LendingClub profile.
You are able to deposit cash at any MoneyPass deposit-taking ATM.
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
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