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Benefits to you, the Employer: |
Direct deposit is a safe, reliable way to pay your employees and it will save you
time and money.
- Direct Deposit is used with the security and stability of the Federal Reserve Banking
System, so security and accuracy is guaranteed.
- Eliminates the time and expense of replacing lost, stolen or damaged pay-checks.
- Employees spend less time during breaks traveling to their financial institutions
to deposit checks, so productivity goes up, and time away from their jobs goes down.
- Reconciliation of your payroll accounts is much easier with direct deposit.
- When your monthly bank statement arrives, your direct deposit payroll is listed
as one entry, you won't be spending time reconciling each payroll check and carrying
forward lost, stolen or uncashed checks.
- You can set up direct deposit with us regardless of what financial institution you
bank with.
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Benfits to your employees: |
- Employees continue to receive complete earnings statements every payday, just like
their normal `check stub'.
- Many banks provide free checking and other discounts when their accountholder's
use direct deposit.
- Employees can electronically deposit funds into checking accounts, savings accounts,or
investment accounts.
- Direct Deposits are posted to the employee's accounts faster than a physical check.
- Direct Deposit delivers the employees pay whether they are sick, on vacation, traveling
out of town on business and in inclement weather.
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