DIRECT DEPOSIT
Direct Deposit Software allow companies to pay their employees by electronically crediting their employees financial
institution on pay day.
Benefits of Direct Deposit:
Company Benefits:
- Save up to $1.25 per payment by using Direct Deposit instead of paper checks
- Eliminate the chance of lost or stolen checks which could resulting charges for stop payment or check replacement.
- Direct Deposit make payroll reconciliation easier
- With Direct Deposit there is no need for special check handling when employees are on vacation or out of the office.
- Direct Deposit Eliminates the time spent storing and securing checks because stock is not required for the
payroll earning record.
- Direct Deposit can help your company gain productivity. Studies show that some employees spend the equivalent of
three workday each year going to the bank to deposit their paychecks.
Employee Benefits:
- Direct Deposit is especially helpful for employees who travel and those who work from home because they
collect their pay without visiting the office or the bank.
- Getting paid on-time happens every time because the paycheck are electronically credited to employee bank accounts
on specified dates.
- Direct Deposit offers less human error potential and there fore the likelihood for employees to encounter problems
with their check is greatly reduced.
- With Direct Deposit most employees will enjoy the benefit of free checking.
How Direct Deposit Works:
To facilitate this, a one time signed authorization form must be acquired from each individual along with a blank "VOID" check form the
particular bank account the employees wishes the credit to be applied. Through this the individual is authorizing electronic credits to be
periodically applied to their bank account.
Who Uses
Direct Deposit?
Direct Deposit is primarily for businesses that want to pay their employees electronically, however, it is ideal for any other circumstance where
by electronic credits need to be applied to bank account on a regularly scheduled basis or otherwise.
Direct Deposit Saves You Money
Direct Deposit as compared to the typical cost associated with the issuance of paper payroll checks, offers obvious and substantial savings benefits
to business organizations.
To Get Started with Direct Deposit:
1. Fill out this Direct Deposit Application
2. Download Direct Deposit Software
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