Direct deposit

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Direct deposit

A method of payment which electronically credits your checking or savings account.

Direct Deposit

An electronic service in which a payment, especially but not limited to a paycheck, pension, or tax refund, is transferred immediately into the recipient's bank account. The direct deposit replaces a check for which the recipient would otherwise have to wait to arrive in the mail. A direct deposit service also allows the recipient to have access to his/her funds immediately without waiting on the holding period, which is required for many check deposits.

Direct deposit.

Direct deposit is the electronic transfer of money from a payer, such as your employer or a government agency, directly into a bank account you designate.

Direct deposit is faster and cheaper than sending a check and also more secure, which is why both payers and banks prefer this system. In fact, banks often provide free checking or other benefits if your paychecks are deposited directly.

References in periodicals archive ?
Automatic withdrawals to pay bills, automatic deposit of payroll checks, Social Security and other government issued checks, such as disability payments, went unregistered.
She suggests making automatic deposits into a 401(k), IRA, and savings account.
Families can create a savings goal and set up automatic deposits of $25 or more each month or deposit money annually as budgets allows.
Pay yourself first by having automatic deposits to a savings account - Michaela C.
All of these options can be linked to your current checking account to make automatic deposits.
Watch large amounts add up by arranging for automatic deposits from your paycheck into your employer's 401(k) plan.
com; 800-403-KIDS) can be started with as little as $100, which requires automatic deposits of $50 a month thereafter.
In addition, students should schedule automatic deposits so that no matter how hectic their schedule gets, contributions continue to be made to their savings account.
The moment you begin receiving regular paychecks, set up automatic deposits from your checking into your savings and 401(k) accounts.
com's E-ZVest program allows users to make automatic deposits in their brokerage accounts, from which they can purchase fractions of stocks through dollar cost averaging--buying stocks by investing the same amount of money at regular intervals (monthly or quarterly).

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