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Direct Deposit reduces stress and adds productivity to paydays. Employees appreciate the safety and convenience. Employers like how it helps their company's bottom line. Following are the benefits of direct deposit:
• Free the check signer
There are no checks to sign with Direct Deposit. With 100% Direct Deposit participation, no one with check signing authority needs to be present on payday.
• Eliminate "delivery stress"
With 100% Direct Deposit participation, you become less reliant upon payroll delivery deadlines, especially those requiring overnight packages, which can be unreliable at times.
• Bypass the check-cashing routine
Losing productivity while employees stand in long, payday bank lines becomes a thing of the past. Direct Deposit means their wages are already in their accounts on payday.
• Eliminate special payments
Employees who are on vacation, traveling on business, or out sick have their money on payday. No checks to be mailed, no special arrangements, no inconvenience for employee or employer.
• Add a benefit
Direct Deposit provides a benefit of great value to employees. In fact, 80% of U.S. companies offer it.
• Speed check reconciliation
People doing the books love Direct Deposit. Because it eliminates check-cashing process, all Direct Deposit amounts can be reconciled on payday.
• Save time after payday
Employees with Direct Deposit never need replacements for lost or damaged checks. That means greater security for them and fewer problems for management.
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