What is Direct Deposit?
Direct Deposit is the fast, easy, and safe way to receive your pay or retirement benefits. It enables your employer to send your funds electronically, directly to your financial institution, where they are deposited into the account(s) you specify. It is available to anyone whose employer participates in the program, and is offered by most financial institutions.
Direct Deposit is the electronic funds transfer (EFT) of your paycheck into your checking or savings account at the financial institution (bank, credit union, or savings and loan) you choose or to a U.S. Bank® AccelaPay® Visa® card. You can have your paycheck go to several financial institution destinations. You can deposit fixed dollar amounts and/or your entire net pay. Direct deposit is very efficient. No more waiting in line at the bank on payday.
With direct deposit, CSE sends an electronic message to your bank telling it to credit your checking or savings account with the exact amount of the child support payment we received from the other parent. You can then withdraw the money, keep it in savings, or pay bills. With direct deposit your money is available sooner, generally by 2-3 business days, because you don’t have to wait for the check to come in the mail or clear at the bank. Best of all, direct deposit is safe because your payments cannot get lost or stolen.
