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 ?
ezACH software developer also launched a new version recently to support multiple accounts feature and quickly data import feature to make ACH direct deposit even easier and faster.
For more information on e-filing or direct deposit, Beach said consumers can surf the FTB's Web site at www.
The study, which surveyed 2,249 small business employers, revealed the preferences of Direct Deposit users and tendencies toward electronic payment.
To start this free test drive of this direct deposit software, visit http://www.
Ninety-five percent say direct deposit is the safest way to receive a federal benefit payment.
Burke said she plans to meet with the department director, Lynn Bayer, next week to urge speedy availability of direct deposit.
Direct Deposit provides employers with significant time and cost savings.
In addition to the hike in Direct Deposit usage among consumers, the trend is also gaining traction among employers with 90 percent offering Direct Deposit as an option to their employees, up from 84 percent in 2009.
Many companies don't offer their employees the option to split Direct Deposit," said Stephen Brobeck, executive director of the CFA.
Wheels on SWACHA is a great tool to help us promote Direct Deposit and Direct Payment Month," said Dennis Simmons, AAP, President and CEO of SWACHA.
RushCard and Baby Phat RushCard members who direct deposit their federal or state tax refunds will automatically be entered to win a trip for two to New York to have an exclusive lunch meeting with Simmons and get a private shopping spree at a selected store in New York City.
Eventually, only income tax refunds will be paid by paper check, although taxpayers can request direct deposit.