To start this test drive of this direct deposit
software, visit http://www.
Of small businesses with revenue between $ 10 million and $20 million, 18 percent still do not use direct deposit
Survey respondents listed other top reasons for opting into direct deposit
as safety (35%), employer requirements (33%), clutter reduction (24%) and reduced environmental impact (21%).
NACHA estimates using direct deposit
saves companies between $2.
Cities are also saving money by promoting direct deposit
of municipal paychecks.
This puts the annual cost of issuing paper checks over direct deposit
transfers at approximately $100 million.
The Direct Deposit
Coalition, whose members include the Federal Reserve Bank, provides telling facts on the growing acceptance of direct deposit
The Bureau of Labor and Industries interprets this to mean that it is unlawful to require the direct deposit
of paychecks, and that employers must obtain each employee's voluntary consent in order to use direct deposits
or electronic transfers for pay purposes.
25 for every paper check payment by converting to direct deposit
The survey addressed why some businesses adopt direct deposit
while others do not and why some employees whose businesses offer the service have started using it while others have not The electronic payments association conducted the survey in November 2010 of just under 2300 small business executives.
One of the simplest strategies for both retention and profitability is to secure the customer's direct deposit
early in the relationship.