For United States (U.S.) or domestic direct deposit payments, the money is available
for deposit in the beneficiary or recipient's account by the opening of business on
the settlement date. For International Direct Deposit (IDD), the money is available
to the contractor bank on the settlement date.
Recurring monthly EFT payments are payable on one of four dates in the month following
the month for which they are due:
Cycle 1 – 3rd of the month
If the Cycle 1 payment date falls on a Saturday, Sunday, or Federal holiday, the payments
are dated for the first day before that date that is not a Saturday, Sunday, or Federal holiday.
NOTE: All payments to beneficiaries or recipients living outside of the country are Cycle
1. In addition, when any one beneficiary receives payment in Cycle 1, all beneficiaries
or recipients on the same record receive payment in Cycle 1, whether living in the
U.S. or abroad. For more information about cycled payments, including the method of
assigning payment dates, refer to GN 02407.005.