Reasons To Pay Employees By Direct Deposit


Here are some reasons why your employees will love being paid by direct deposit.

Direct Deposit is Simple:

  • There is no need to go to the bank to deposit checks.
  • Your money is automatically deposited into your account on time, every time – and you don’t have to be at work – or even in town!
Direct Deposit is Safe:

  • Direct Deposit payments never get lost.
  • Money is transferred electronically and passes through fewer hands than a check.
  • Almost 85 percent of identity theft starts with someone seeing your personal financial information on a paper check, billing statement, or bank account statement. Once electronic payments are set up, the money travels electronically, greatly reducing the number of people who see your personal information.
Direct Deposit is Smart:

  • Direct Deposit gives you access to your money earlier than check deposits. There is no waiting for checks to clear.
  • Direct Deposit puts you in charge of your money. Financial planners recommend Direct Deposit as one step towards gaining control of your finances.
  • With Direct Deposit, you decide how to divide your pay among your accounts and it will be done automatically.
  • Direct Deposit is a smart way to help the environment. Each year, checks use more than 674 million gallons of fuel and add 3.6 million tons of CO2 to the environment as they travel through the payment cycle.
What if an employee doesn’t have a bank account?

SwiftChecks can still provide paperless payroll for your company if you have an employee that does not have a bank account by supplying them with a payroll debit card. With the SwiftChecks payroll debit card service your employees will receive direct deposits on their payroll card and have access to great benefits such as:

  • Mobile banking for 24/7 access and convenience.
  • Text messaging for instant balance alerts.
  • 24/7 bilingual customer service department.
  • Convenience checks for financial control.
  • Funds are FDIC insured.
  • Cards can be used at millions of retailers and ATM’s.
With SwiftChecks you can easily eliminate the administrative burden of managing and distributing checks, pay stubs, and payroll reports.