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.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

direct′ depos′it


n.
the electronic transfer of funds directly from the payer into the bank account of the recipient.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
References in periodicals archive ?
The account requires no minimum balance or direct deposit. For customers under 25 years of age, the monthly service charge (USD10.00) is waived automatically, with no deposit necessary.
Same-day Direct Deposits made up 52% of Same Day ACH volume; business-to-business (B2B) transactions made up 32% of Same Day ACH; person-to-person (P2P) payments constituted 13.5% of same-day volume; and consumer bill payments made up the remaining 2% of Same Day ACH volume.
To start this test drive of this direct deposit software, visit http://www.halfpricesoft.com/NACHA-ACH-direct-deposit-software.asp
"Those accounts were then used to receive direct deposits of Social Security and IRS refund payments that had been illegally redirected from their intended recipients into the couriers' accounts,'' the affidavit states.
New consumer checking accounts opened February 1, 2014 or later will not be eligible to access the Direct Deposit Advance service, Wells said.
Companies can issue pre-loaded cards to employees as a payroll direct deposit option.
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.
That's up from the 66% paid via direct deposit in a 2008 survey by the Consumer Federation of America.
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.
A: Your employer may not switch your paycheck to direct deposit if you object.
An employer (including a financial institution) may not require its employees to receive their salary by direct deposit to any particular institution.
Combine any of those cards with direct deposit of funds into your bank account, and electronic commerce is already a big part of your life.