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Benefits to you, the Employer:
Direct deposit is a safe, reliable way to pay your employees and it will save you time and money.
Direct deposit is used with the security and stability of the Federal Reserve Banking System, so security and accuracy are guaranteed.
Eliminates the time and expense of replacing lost, stolen or damaged paychecks.
Employees spend less time during breaks traveling to their financial institutions to deposit checks. Productivity goes up, and time away from their jobs goes down.
Reconciliation of your payroll accounts is much easier with direct deposit. When your monthly bank statement arrives, your direct deposit is listed as one entry. You won’t be spending time reconciling each payroll check and carrying forward lost, stolen or uncashed checks.
You can set up direct deposit with us regardless of what financial institution you bank with.
Benefits to your employees:
Employees continue to receive complete earnings statements every payday, just like their normal “check stub”.
Employees can electronically deposit funds into checking accounts, savings accounts or investment accounts.
Direct deposits are posted to the employee’s accounts faster than a physical check.
Direct deposit delivers the employees pay whether they are sick, on vacation, traveling out of town on business and in inclement weather.
Many banks provide free checking and other discounts when their accountholder’s use direct deposit.
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