As an employer, offering employee direct deposit is a convenient and economical way to pay your employees. But there are distinct advantages for your employees, too.
What are the advantages of direct deposit?
- No paper check to lose or damage.
- No making a trip to the bank to deposit a paycheck.
- The money is usually in the employee’s account in the morning of pay day.
- Direct deposit can help employees save more money. Many employers offer the ability to split the pay among more than one bank account if the employee chooses (e.g., checking, savings, or retirement accounts).
Monthly Fee: $25