Who uses direct deposit?
Direct Deposit is primarily for businesses that want to pay their employees electronically, however, it is ideal for any other circumstance where by electronic credits need to be applied to bank account on a regularly scheduled basis or otherwise. Direct Deposit Saves You Money Direct Deposit as compared to the typical cost associated with the issuance of paper payroll checks, offers obvious and substantial savings benefits to business organizations. To Get Started with Direct Deposit: 1. Fill out this Direct Deposit Application 2. Download Direct Deposit Software CheckProcessing.
Millions of people take advantage of our direct deposit service. Direct deposit has been available in Canada since November 1990. We have expanded this service to the United States in 1995 and to other countries since September 2005. Since then, direct deposit has become our standard way for delivering payments to people who receive Canada Pension Plan and Old Age Security benefits in Canada and abroad.
Recent studies have shown that as many as 70% of the current workers in the United States, have opted to receive their paychecks via direct deposit. Another 80% of large corporations have now begun to offer the deposit of its employee’s wages. Many of these companies employ more than 500 employees; therefore, many of them consider direct deposit to be a very important benefit.
