Direct Deposit
Direct deposit can be described as the electronic transfer of wages and benefits from your company's payroll account to employees' accounts. By removing negotiable checks from the process, direct deposit reduces excess check handling and other possibilities for error. In other words, it helps make your company's payroll process even more efficient and accurate.
Beyond payroll processing, employees also appreciate direct deposit, because it gives them quick access to cash, eliminates a trip to the bank, and maintains their control over where deposits are made.
An Important Step Toward a Paperless Office
While direct deposit is a key component of any paperless office, Paychex offers your organization additional ways to develop a paperless payroll solution. Paychex® HR Online in particular allows you and your company’s employees to view and print pay stubs and W-2s online, and access a variety of other paperless features. Learn more.
Employee Account Options
Our direct deposit service allows employees to have all their wages deposited into one bank account, or split the funds between a personal account and a savings or household account. Deposits can even be made to multiple banks or to a payroll debit card.
For more information about our products and services, please contact a Paychex representative at 800-322-7292, Monday through Friday from 8:00 a.m. to 8:00 p.m. ET. Or, complete our online form for a no-obligation quote.
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