If your financial institution is actively promoting Direct Deposit, you know that this application helps you to generate new customers and expand your business with your current customers. Over 97% of customers who use Direct Deposit are very satisfied with it, and customers who are happy with Direct Deposit are more loyal to their banks. Here are a few easy ways to communicate the benefits of Direct Deposit to your individual and business customers:

Direct Deposit is simple.

• For individual customers, money is automatically deposited into their accounts on time, every time. They don't have to be at work, or even in town, when a deposit is made.
• For the business customer, Direct Deposit eliminates manual check processing, which can reduce administration costs. Also, Direct Deposit can simplify the account reconciliation process, with a single dollar amount for the total amount of the Direct Deposit transactions, versus individual check amounts to reconcile.

Direct Deposit is safe.

• Direct Deposit is confidential. Money is transferred electronically and passes through fewer hands than a check.
• Direct Deposit payments never get lost or stolen. Furthermore, fraud is reduced because there is less potential for counterfeit checks, stolen checks, altered amounts, and forged signatures.

Direct Deposit is smart.

• Direct Deposit gives your individual customers access to their money at the opening of business on payday, and there is no waiting for checks to clear.
• Typically, it costs more for business customers to process a paper check through a company's or organization's account than a Direct Deposit transaction.
• Problems with Direct Deposit are very rare. The chance of having a problem with a check is significantly greater than with Direct Deposit.
• Businesses can save between $0.50 and $1.25 per payment by using Direct Deposit instead of checks.
• Direct Deposit adds one more incentive for companies to competitively attract employees.
• Productivity can be increased due to employees spending less time away from work to cash or deposit a payroll check.