No matter what size your company, Direct Deposit offers tangible benefits – from cost savings to increased operational efficiencies at all levels. A few of the benefits include the following:

Direct Deposit is simple.

• Direct Deposit simplifies your account reconciliation process. Your company or organization's account statement will have a single dollar amount for the total amount of the Direct Deposit transactions versus individual check amounts to reconcile.
• Direct Deposit eliminates manual check preparation, which can reduce administration costs.
• You'll have fewer checks to print and store.

Direct Deposit is safe.

• Direct Deposit payments never get lost or stolen.
• Fraud is reduced because there is less potential for counterfeit checks, stolen checks or signature plates, altered amounts, and forged signatures.
• No signatures are required with Direct Deposit, so there's no need for facsimile signature security.

Direct Deposit is smart.

• Typically, it costs more to process a paper check through your company's or organization's account than a Direct Deposit transaction.
• The potential for errors is reduced because Direct Deposit requires less manual handling than a check.
• Problems with Direct Deposit are very rare. The chance of having a problem with a check is much greater than with Direct Deposit.
• Businesses can save anywhere from $0.50 cents to $1.25 per payment by using Direct Deposit instead of checks.
• Direct Deposit adds one more incentive to competitively attract employees.
• Productivity can be increased due to employees spending less time away from work to cash or deposit a payroll check.