Direct Deposit
For almost 40 years, electronic payments have been simplifying financial transactions. Some of the most common
types of electronic payments are processed through the Automated Clearing House (ACH) Network, including Direct
Deposit. When Direct Deposit is offered by employers, more than three-quarters of employees select it as their
preferred way to get paid, due to its safety, speed and convenience.
The payroll direct deposit service is a free account feature that enables a customer to receive their payroll,
Social Security, pension, or other recurring payments electronically to their prepaid account. Customers can enroll
for corporate, federal, state, or local government payroll, pension, annuity, and treasury direct payments.
Direct Deposit Benefits
- There are no checks to be lost or stolen.
- Payments reach the customer’s account the day the check is issued.
- Direct deposit can help customers avoid bouncing checks because the deposit is direct and on time.
- It can save customers a trip to the bank and help them avoid long lines at tellers.
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