direct deposit


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direct deposit

n.
The electronic transfer of a payment directly from the account of the payer to that of the party being paid.

direct′ depos′it


n.
the electronic transfer of funds directly from the payer into the bank account of the recipient.
References in periodicals archive ?
This flexible electronic direct deposit software is easy and less expensive than most on the market at this time.
After linking the card to a Balance Rewards account, users can earn 10 points for every $1 spent at Walgreens or Duane Reade stores, 1,000 points for the first direct deposit and more points for in-store reloads and direct deposits.
A recent survey of small-business owners revealed that 66 percent do not use direct deposit for payroll--overlooking an easy way to save thousands of dollars, increase employee satisfaction and reduce environmental impact each year.
The survey, which was conducted from a random sample of 3,502 respondents, also found 17% of employees are splitting their direct deposit funds over two accounts, which is a 3% increase from 2010.
That's up from the 66% paid via direct deposit in a 2008 survey by the Consumer Federation of America.
Go Direct encourages those who already have a bank account to sign up for direct deposit.
The form is intended to help taxpayers implement new choices and gain flexibility for direct deposits of their 2006 Federal income tax refunds.
Research shows that some individuals, especially senior citizens, have emotional attachments to paper checks or else don't trust or understand how direct deposit works.
To appreciate the dynamics of this process, it is necessary to understand the positive impact of direct deposit on these businesses.
A: Your employer may not switch your paycheck to direct deposit if you object.
A reversal of a direct deposit to correct an error does not trigger the monthly statement requirement when the error represented a credit to the wrong consumer's account, a duplicate credit, or a credit in the wrong amount.