There are a lot of banks that offer that service. Bank of America (which I hate in general) does have a good small business payroll service. They give a free checking account to each employee and will do all of the paperwork (including payroll taxes and deductions) for free to direct deposit for those employees for a company whose business account is also in B of A. They just charge a low maintenance fee to file the year end and quarterly forms for the company.
2007-01-30 09:29:20
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answer #1
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answered by Rich Z 7
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First, survey the employees to determine whether or not the majority is in favor of Direct Deposit. (Hate to see you go through the process and have little or no partiicpation.) Of course, they'll need to supply you with the name of their bank (everyone writes/ prints name of bank on piece of paper; the information is transferred to a sheet(s) of paper which you will need to present to your bank.
Next go to your bank and find out the procedure for "electronic transfers" so that you can offer employees Direct Deposit. If so,
present the paper with the employee's banks to ascertain whether the transactions will go through and if there are charges assessed against the employee (some banks do not have "transfer" capabilities, or charge for the Direct Deposit, or other reasons).
Finally, you will need "voided" copies of checks from those wanting to participate (shows the account number where the fundswill be deposited).
2007-01-30 09:59:23
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answer #2
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answered by PALADIN 4
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Just go to the bank, they will glad to help you. Most times you sign papers that authorize payments to a particular account at a particular bank from a particular account at a particular time.
Just fill in the blanks and it is done.
2007-01-30 09:27:23
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answer #3
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answered by whatevit 5
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Most payroll services will be able to do it for you.
Just search "payroll service" on google and you'll find lots. Shop them like you would any other product--ask what services they provide, what coverage they have for payment errors, tax services, auto-deposit, how they charge for their services, etc.
2007-01-30 09:27:19
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answer #4
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answered by SwimsALot 2
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