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When your employer sends your pay directly to your checking or savings account rather than issuing you a paper check, you're participating in Direct Deposit. These deposits arrive and are made available to you more quickly than paper checks, and can be automatically divided among different accounts based on your direction. You don't even have to go to your bank.  Direct Deposit is the most widely used electronic payment. In 2005, 4.4 billion payments were made using Direct Deposit, a 5.1 percent increase over the previous year. As many as 145 million Americans use Direct Deposit to receive their pay or government benefits. More than half of federal tax refunds are received through Direct Deposit (52 million in 2005, a 7 percent increase over 2004). And close to 80 percent receive their Social Security benefits through Direct Deposit. Did you know that Direct Deposit has been around for almost 40 years? It has a proven record of success - 97% of people who get paid via Direct Deposit are satisfied with it. Want to know more?
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