"We continue to see growth in the use of ACH for direct deposit
of payroll, vendor payments, and taxes as more businesses in Alaska take advantage of the convenience, security, and cost savings of these services," Dablemont says.
* Of small businesses with revenue between $ 10 million and $20 million, 18 percent still do not use direct deposit
NACHA estimates using direct deposit
saves companies between $2.87 and $3.15 per payment.
This puts the annual cost of issuing paper checks over direct deposit
transfers at approximately $100 million.
Note, however, that even if you agree to direct deposit
, your employer must provide you an itemized wage statement at each payday.
Taxpayers with outstanding Federal debts (such as delinquent child support and education loans) are ineligible for direct deposit
of their refunds, as any refund is first applied against debt.
What does Social Security need to make your direct deposit
In addition to no overdraft fees, there are no minimum balance requirement, direct deposit
requirement, debit card transaction requirement, monthly fee or per check charges.
Employers previously spending too much money for outside companies to process direct deposits
for them are excited when they switch to ezACH direct deposit
software from Halfpricesoft.com.
They typically charge no monthly fees, have low penalties or none at all and offer FDIC insurance, direct deposit
, electronic bill payment, debit cards, photo check deposit and national networks of fee-free ATMs.
The survey, called"Getting Paid In America," showed that ninety-seven percent of employees are paid by either direct deposit
, payroll card or prepaid reloadable cards.
Increasingly, our customers are becoming strong users of online and mobile banking, online bill payment and direct deposit
. Many of them seldom write paper cheques and choose to receive their statements electronically instead of in the mail.