you direct deposit?

Question

I was thinking about getting direct deposit but how does that work, and do you take alot out when the checks go in the account,because I don't want to do something that will be the very wrong thing to do, so could you please expain it?

Answer 1

I've had and also administered direct deposit for payroll for many years. It's great. No security problems with checks lying around to be forged ,etc. on the company end. Employee end, no going to the bank before it closes to cash each paycheck - you just know it's going to be there. You get a paper "voucher" with all your earnings' info (year-to date, withholdings, any investments, etc.). Never had a problem - I highly recommend direct deposit. If you don't have a checking account, most employers banks offer opening a free checking account for your direct deposit. Give it a try!

Answer 2

Direct deposit is probably the best way to be paid. In every instance where my employer allowed direct deposit, I never had to pay a cent. Usually the cost is on the employer. Your money is deposited directly into the account you provide to your employer's payroll company. This way, no one can intercept your check and you can't lose your check. The money is available immediately upon the deposit. I liked this because if I normally was paid on Friday, my money was available at the atm on Friday usually after 12:00 midnight. I didn't have to wait for the bank to open to get money.

I think you should take advantage of the direct deposit. If for some reason you decide you don't like it, you can ask them to stop it and you can go back to receiving your checks the same as you always did.

Answer 3

I use direct deposit as much as possible. The advantage is you don't have to worry about getting to the bank during open hours. And, your check goes right in your account usually around midnight....so, if you get paid March 15 and March 30, your check will be in your account by 12:01am March 15 and March 30. You won't have to wait to get your paycheck, drive it to the bank during open hours, and deposit it at 6pm March 15. It will just be there automatically. My bank (Harris Bank) does not charge me anything to have direct deposit...it is free. I think most banks are free. I don't feel it is the wrong thing to do -- I LOVE it. Easy & hassle free! good luck --

Answer 4

Skips the middleman, you. Your job deposits the paycheck into the account that you set up with. My check goes into 3 accounts, all under my direction. Then you decide how much you need to withdraw