Comment Re: Funny (Score 1) 117
If you get paid on the 30th, your deposit was typically funded 2 business days prior, and your bank only told you on the morning of the 30th.
It sounds like Greenwood is doing what USAA and some other customer-friendly banks do: they're clearing the transaction immediately after it's funded, instead of waiting for the pay date, so customers get their money sooner with no associated fees.
There is added evidence that this is what Greenwood is doing on the Greenwood website, where the fine print talks about the availability and timing of early direct deposit varying from pay period to pay period based on payor specific details. Such details would be irrelevant to a payday loan.
There is no evidence, that I've seen, that it's a payday loan scam.