Advantages of Direct Deposit
Convenience. It’s why the fast-food business is a trillion-dollar industry. It’s why you keep a telephone on your bedside table. And it’s also why more and more people everyday sign up to have their paychecks deposited directly into their bank accounts.
- Direct deposit transactions are fast, reliable, and safe.
- You can control where and how much money goes into your various bank accounts, as well as those you share with your husband.
- Save time–studies have discovered that the average worker spends anywhere from 8.5 to 24 hours a year cashing payroll checks.
- Save money–you won’t be tempted to make a withdrawal simply because you’re already at the bank to make a deposit.
- Direct deposits are usually authorized a day in advance of payday, and frequently the transaction is processed so you get your money a day earlier than everyone else.
- You don’t have to make special arrangements to get your paycheck if you’re out sick or on vacation on payday.
- Since there’s no paperwork, your paycheck can’t get lost or stolen.