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di·rect de·pos·it
noun
- 1. the electronic transfer of a payment directly from the account of the payer to the recipient's account. North American
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First, what is the meaning of direct deposit? Direct deposit is an electronic transfer of funds from a payer to a payee’s account. You can set up direct deposits with the...
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 ...
A direct debit instruction differs from a direct deposit and standing order instruction, which are initiated by the payer. A standing order involves fixed payment amounts paid periodically, while a direct debit can be of any amount and can be casual or periodic.
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 ...
Direct deposits from the government, such as social security benefits, arrive on the second, third or fourth Wednesday of the month. If Wednesday is a national holiday, the direct deposit...
A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below.
What does ACH mean on a deposit? ACH stands for automated clearing house, and it refers to direct deposits or electronic fund transfers being made through banks or credit unions.
A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates.
What time does direct deposit hit major banks in the U.S.? Here's what you need to know about direct deposit times and what you can expect.
Demand deposits or checkbook money are funds held in demand accounts in commercial banks. These account balances are usually considered money and form the greater part of the narrowly defined money supply of a country. Simply put, these are deposits in the bank that can be withdrawn on demand, without any prior notice.