What is the difference between Weekly, Every Other Week, Twice a Month, and Monthly?
EarnUp recommends that you choose a schedule that aligns with the day(s) that you get paid. The description of each schedule type is listed below.
- Weekly means every week - if you are paid weekly, you receive 52 paychecks per year. Most months have 4 weekly pay/withdrawal periods, but 4 months of the year will have a fifth pay/withdrawal period.
- Every Other Week or Bi-Weekly means every second week - if you are paid bi-weekly, you receive 26 paychecks per year. Most months have 2 pay/withdrawal periods, but 2 months of the year will have a third pay/withdrawal period.
- Twice a Month or Semi-Monthly means two times per month - if you are paid semi-monthly, you receive 24 paychecks per year.
- Monthly means once per month - if you are paid monthly, you receive 12 paychecks per year.
Note: Payments will be sent once a month based on your mortgage payment due date. This is a restriction for most mortgage servicing companies.