DIRECT DEPOSIT

Overview

If you are Business Owner and have employees, you need to pay them promptly for the time they’ve worked. There are ways to pay to them:Direct Deposit, which is a transfer of funds directly in to your employees account by the third part,  “DIRECT DEPOSIT” is a safe, efficient and cost-effective way to pay to your employees. 

Pay by Paper Check

Paper checks are a very common way of payment. With new technology in the world of banking, such as mobile banking, your employees can deposit checks into their accounts. Paper checks are the best way of payment. They are convenient for employees as well, since some employees allocate one of their paychecks for monthly payments such as rent, credit cards, or car payments.

Direct Deposit

Direct deposit is another way of payment for your employees. It is very convenient for both the employee and employer, as they do not have to drive to the bank or wait in line to deposit a paper check. However, setting up the direct deposit requires completing an application, undergoing credit verification and processing, which can be time-consuming.
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LAST UPDATED MAY 15, 2024 9:14 AM-c