Some employees spend an average of three workdays per year going to the bank to deposit their paper payroll checks. Now you can process your payroll electronically by using the Federal Reserve’s Automated Clearing House (ACH) network to automatically deposit your employee’s paycheck into their bank account. With our direct deposit program you will have access to the most powerful (yet easy to use) tools available.

While the most popular application of direct deposit is payroll, it can also be used for many other types of payments, including annuities, bonuses and commissions, dividend and interest payments, pensions, travel expense settlements, and vendor payments.

Save your company money and time

Direct deposit has many benefits. Companies can save an average of $1.25 per payment by using direct deposit instead of checks. It eliminates the cost of delivering checks to employees at different locations. It eliminates the chance of lost or stolen checks and the resulting charges for stop payment and check replacement.

In addition, direct deposit can save your company time. Payroll reconciliation is easier, and it can streamline your tax reporting at the end of the year. There is no need for special check handling when employees are on vacation or out of the office. There is reduced time spent storing and securing checks because check stock is not required for the payroll earnings record.

Your employees benefit also. Ninety-seven percent of employees that use direct deposit (there are over 62 million who do) are very satisfied with it. The chance of your employee having a problem with a check is much greater than with direct deposit. And direct deposit is especially helpful for those employees who travel and those who work from home because they collect their pay without visiting the office or the bank.