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Direct deposit is a payment option where your funds are electronically transferred to your checking or savings account, eliminating a need for physical checks.
You can (or may have to) sign up for direct deposit of other payments, such as your Social Security benefits, pension payouts, military retirement pay and unemployment benefits.
If you want to deposit your paycheck into savings, contact your payroll or HR department to update your direct deposit information. If your employer allows you to separate your earnings...
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 split direct deposit gives you the ability to deposit your paycheck into multiple accounts. You can do this by depositing a percentage or set amount in your chosen accounts each pay...
Traditional payment systems include negotiable instruments such as drafts (e.g., cheques) and documentary credits such as letters of credit. With the advent of computers and electronic communications, many alternative electronic payment systems have emerged.
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