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Payroll Direct Deposit

The mounting cost of handling paper transactions has laid the groundwork for the success for Direct Deposit. Direct Deposit benefits non-profits and municipalities with reduced payment processing costs and operating efficiencies.  The benefits of Direct Deposit include: 

  • More efficient reconcilement through batch processing versus single entry check processing 
  • Elimination of lost checks and resulting stop payment charges and handling associated with replacement checks 
  • Elimination of critical delivery costs such as expensive overnight delivery, since funds are automatically deposited 
  • Elimination of special check handling, such as vacation checks, since deposits are made when the employees are away from work 
  • Reduced storage and security of checks because check stock is not required for the payroll earnings record 
  • Reduced employee lost time commonly experienced with long lunch hours on pay days
  • Valuable low cost employee benefit