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Payroll Direct Deposit
Show your employees that time is money by enrolling them in Payroll Direct Deposit.
Payroll checks are the most commonly used transaction to perpetuate a fraud. Direct deposit of payroll eliminates the paper, and therefore, helps eliminate the opportunity for fraud.
- Employee pay is processed directly into their banking account of choice
- Direct Deposit files are submitted two business days prior to the effective payroll date and the bank ensures that payroll is met by placing a hold on your account balance of equal value until the payroll is processed
- These balances are included in your average daily collected balance that offsets the fee for the package services
- Eliminates the need to reissue checks, place stop payments and perform reconciliation
- Your employees receive instant gratification on paydays versus having to go to the bank and wait for the item to clear or possibly pay a fee to cash the check