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Looking for an easy way to reduce costs, increase productivity, streamline payment processes, and enhance employee satisfaction? It's time to consider Direct Deposit, an electronic payment made directly to the checking or savings account of your employees, retirees, taxpayers, or shareholders. Businesses of all sizes can use Direct Deposit for payroll, pension and annuity payments, interest payments, expense and travel reimbursements, dividend payments, and bonuses.
Explore this section to learn about the benefits of offering Direct Deposit, find answers to the most common questions, and use our checklists and sample authorization forms.
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How It Works
View every step in the process, from initial authorization to payday confirmation.
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Benefits
Learn how Direct Deposit can reduce your costs while increasing your employees' job satisfaction and helping the environment.
Learn about the benefits »
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Costs
Companies of all sizes - whether you have 10 employees or 100,000 - can save costs by using Direct Deposit instead of paper checks.
View sample calculations »
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Cost Calculator
Estimate how much you can save by switching your organization's payroll to Direct Deposit from paper checks.
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Fast Facts
Most large companies (over 500 employees), as well as many small- and medium-sized businesses, offer Direct Deposit as an employee benefit.
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FAQ
Get answers to frequently asked questions about Direct Deposit.
View the FAQs »
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Next Steps
Learn what to do next if you're ready to implement Direct Deposit at your company or organization.
Get started now »
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"We cut 30 percent from our payroll costs (by using) Direct Deposit and gave our employees a valuable new benefit. The first year Direct Deposit saved us $47,073.00…Cutting costs while adding a new employee benefit. How can you beat it?"
- City of Lubbock, Texas
(1,920 employees)
The most popular application of Direct Deposit is for payroll, but it can also be used for many other types of payments, including:
- Annuities
- Bonuses and commissions
- Dividend and interest payments
- Pensions
- Travel expenses
- Tax refunds
- Social Security or other government payments
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