Direct Deposit via ACH is the seamless, easy way to pay your staff. Direct Deposit electronically transfers funds from your organization’s account directly to the accounts of your staff. When you use Direct Deposit, you eliminate manual check preparation and record-keeping, helping you increase efficiencies and save costs, providing you with more time to devote to service and living out the mission of your organization.
Because Direct Deposit eliminates manual check preparation, you save on everything from postage and mailing supplies to staff time and resources – and you help save the environment. You also improve expense control and cash flow management, and reduce your need for check-related services.
Direct Deposit is also good for your employees. It can save them trips to the bank and time spent waiting in line to cash a check and associated fees. Direct Deposit can also help your employees grow their savings by enabling automatic saving. With Split Deposit, they can direct a fixed amount or percentage of their pay into a savings or investment account to help build savings.
In addition to payroll, Direct Deposit can be used for:
- Bonuses and commissions
- Child support payments
- Dividend and interest payments
- Pension/401(k) disbursements
- Social Security and other government payments
- Tax and other refunds
- Travel and other employee expense reimbursements
By offering Direct Deposit as part of your employee benefits offerings, you can help boost employee satisfaction. 87 percent of employees are highly satisfied with their decision to use Direct Deposit and employees paid by Direct Deposit rate their employer a 9 out of 10 for their employers’ support of the service.
Your Direct Deposit transactions are safe: Unlike a paper check, which passes through many hands, account numbers remain confidential. You can also consult with your financial institution or payroll provider to learn about additional sound business practices to protect sensitive data.
BUSINESSES BENEFIT WITH DIRECT DEPOSIT, SAVING UP TO $2.87 - $3.15 PER PAPER CHECK
Visit our calculator for a quick estimate of the savings your business can achieve.
Contact your financial institution or payroll provider to set up Direct Deposit. Most business software packages now include it as a standard feature.
Use these resources to help educate staff and promote Direct Deposit within your organization.
Press Releases »
Social Media »
Fact Sheets »