Introduction   |   How It Works   |   Benefits   |   Costs   |   Fast Facts   |   FAQ   |   Next Steps

 

Introduction To Direct Deposit

Looking for an easy way to save your company time and money, increase productivity, and make your employees happy? It's time to consider Direct Deposit - an electronic payment made directly to the checking or savings account of your employees, retirees, taxpayers, or shareholders. Businesses can use Direct Deposit for payroll, pensions, expense reimbursements, dividend payments and more.

Three out of four employees who are offered Direct Deposit use it to receive their pay, and their satisfaction rate is 97%.

Explore this section to find out about the benefits of offering Direct Deposit, get answers to the most common questions, and take advantage of our checklists and sample authorization forms.

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How It Works

View every step in the process, from initial authorization to payday confirmation.
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Benefits

Find out how Direct Deposit can reduce your costs while increasing your employees' job satisfaction.
Learn about the benefits »
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Costs

Companies of all sizes - whether you have 10 employees or 100,000 - can achieve significant cost savings using Direct Deposit over paper checks.
View sample calculations »
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Fast Facts

Most large companies (over 500 employees) offer Direct Deposit as an employee benefit.
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FAQ

Get answers to frequently asked questions about Direct Deposit.
View the FAQs »
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Next Steps

Learn what to do next if you're ready to implement Direct Deposit at your company or organization.
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What People are Saying

"We cut 30 percent from our payroll costs (by using) Direct Deposit and gave our employees a valuable new benefit. The first year Direct Deposit saved us $47,073.00…Cutting costs while adding a new employee benefit. How can you beat it?"

- City of Lubbock, Texas
(1,920 employees)

Direct Deposit: For More Than Payroll

The most popular application of Direct Deposit is for payroll, but it can also be used for many other types of payments, including:

  • Annuities
  • Bonuses and commissions
  • Dividend and interest payments
  • Pensions
  • Travel expenses
  • Tax refunds
  • Social Security or other government payments