- Paying with a paper check can result in delays due to mail delivery, processing times, and clearance periods. Your employee may also need to physically go to a bank or check-cashing location to deposit the check, which can take additional time.
- Direct deposit also allows your employees to receive their paycheck no matter where they are. So whether on vacation or in another country, your employee can get their money on payday anywhere they have a bank account.
- Unlike paper checks, where your employees have to visit their local bank branch to deposit and wait a couple of days before they access the funds, direct deposits eliminate the hassle. All you need to do is set up and forget it.
- If you pay your employees via check, they either need to pick it up themselves or wait for it in the mail. In addition, depositing the check requires them to visit their local bank branch and wait a few days to clear. Using direct deposit to pay your employees saves time and money by cutting all these steps.
- You save the hassle of buying new checks, running out of checks at the last minute and having to pay to get temporary checks.
- Your employees will receive their payments in their accounts for no fees. We charge a very small fee for you to use our services.
- With direct deposit your employees don’t have to go to a physical bank , wait in line, or wait for the check to clear. The money has already gone into their accounts.
- Other services charge you lots of fees to offer the ACH direct deposit service, you can eliminate most of those costs by letting us handle your direct deposit needs.
- Paper checks can get lost or torn up easily. This will make your employees wait even longer for their paycheck.
- The funds are electronically transferred and deposited into your employees’ accounts. Unlike checks, they don’t get lost unless your employee gives you the wrong banking information.
- You won’t have to take the time to dig up the payroll records to reissue checks.
- Direct deposit reduces the risk of fraud and ensures that the funds are safely deposited into your employees’ bank accounts. There is no physical identifying information such as address, name, employer, etc. as their would be with checks.
- Personal banking information is kept more secure with the encryption that encodes sensitive information so hackers won’t understand the information they are trying to intercept.
- Employees will have more control over their money, thus they’ll be less likely to ask for advances. If they do get an advance, it can be direct deposited as well.
- Employees can deposit money into multiple accounts for savings purposes.
- Employees can avoid monthly fees on their accounts, many banks will waive their monthly fees if your employee has direct deposit.
- ACH Direct deposits aren’t just for paychecks. You can use our direct deposit system to deposit their advances and reimbursements thus eliminating more checks.
- Employees can switch banks easily, you will just need to give us their updated information and it can be done immediately, a lot of other companies will make them wait for 2 weeks
- Employees just need to give you their banking information and you give to us. We will immediately set them up to start receiving direct deposits.