Direct Deposit
Direct deposit is a free service that can help you manage your funds and gain peace of mind. You save time and money, get faster access to your cash and know that it's safely deposited regardless of where
you are.
You can use direct deposit for regular payments such as payroll, Social Security benefits, expense reimbursements, tax refunds, pensions, dividends and bonuses.
A Faster, Safer Method
Because direct deposit is an electronic transaction, it reaches your account faster than if you received the payment by mail, deposited it and waited for the check to clear. You never have to worry about making your deposit when you're busy, sick or on vacation. And there are no checks to be lost or stolen in the mail. Both you and your money are safe.
Streamlines Government Payments
Now, the federal government offers distribution of tax refunds via direct deposit, often depositing the money within days of receiving your return. What's more, 75% of all Social Security and SSI beneficiaries receive their benefits by direct deposit. In fact, the Social Security Administration now requires direct deposit for all new benefits recipients.
Ask Your Employer Today
The majority of large companies offer direct deposit, but the service is available to companies of any size. Studies show that 97% of those who use direct deposit are very satisfied with it, and 71% of employees who have direct deposit available use it. Ask your employer whether direct deposit is available at your firm. It's a smart way to manage your money.
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