Automated Clearing House or ACH direct deposit saves your company the time and expense of producing paper checks for payroll, expense reimbursements, stock dividends, company bonuses, pensions, annuity, and interest payments. With ACH direct deposit, your employees don’t need to visit the bank to cash or deposit payroll checks.
Using direct deposit significantly reduces the risk of check fraud for your company, and eliminates the risk of check loss or potential fraud for your employees.
You know the exact clearing date and amount, so you can maximize your investment potential. You'll also decrease the need for stop payments and minimize account reconciliation tasks. Your employees will enjoy having access to payroll funds at the opening of business at their bank.
Your office can eliminate the time-consuming and tedious task of check printing and check storage. Direct deposit makes it easy for your employees - they won't have to leave work to cash or deposit checks. Employees can also use direct deposit to automate recurring deposits to multiple accounts. For example, they might choose to have a portion of their payroll checks directly deposited to a savings or money market account.
*Subject to credit approval.