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Direct deposit is an electronic transfer of funds from a payer to a payee’s account. You can set up direct deposits with the following types of accounts:
With direct deposit of your paychecks and automatic payment of your bills, you don’t need to worry about mail delays and shuttered bank branches. You can access the money faster, avoid missing ...
With electronic statements, online banking and mobile apps, paper paychecks can seem oddly out of place. Among American workers, about 93% choose to receive paychecks by direct deposit, according ...
A direct deposit (or direct credit ), in banking, is a deposit of money by a payer directly into a payee's bank account. Direct deposits are most commonly made by businesses in the payment of salaries and wages and for the payment of suppliers' accounts, but the facility can be used for payments for any purpose, such as payment of bills, taxes ...
Remote deposit or mobile deposit is the ability of a bank customer to deposit a cheque into a bank account from a remote location, without having to physically deliver the cheque to the bank. This was originally accomplished by scanning a digital image of a cheque into a computer then transmitting that image to the bank, but is now accomplished ...
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Depository institution. Colloquially, a depository institution is a financial institution in the United States (such as a savings bank, commercial bank, savings and loan associations, or credit unions) that is legally allowed to accept monetary deposits from consumers. Under federal law, however, a "depository institution" is limited to banks ...
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