Payroll Maxx can easily setup your employees on direct deposit, saving both you and your employee's time and money. Payroll Maxx incorporates the ACH, or automated clearing house system and can electronically deposit funds in to any bank that also participates in ACH.
Your employees will receive a direct deposit pay stub while the actual funds from the check are deposited in to the participating bank of their choice, in to the account of their choice.
Millions of employees in the United States are paid through direct deposit. These direct deposit employees have the luxury of never having to go to the bank and waiting in line to cash or deposit a payroll check. Some participating banks and financial institutions offer free checking accounts for employees that have signed up for direct deposit, making it simple and easy to use direct deposit. Direct deposit payroll funds can be split between accounts at almost any bank, for example, perhaps you have an employee that wants to automatically deposit 10% of their net wages in to their savings account and the remaining 90% in to their checking account. Consider it done! There is no limit on direct deposits and how the funds can be allocated to each account.
Because direct deposit utilizes the ACH method of electronically transferring funds, there are less "hands" involved in the transaction and less opportunity for payroll information to be shared with others. Direct deposit is the safest method to pay your employees. It is quick and easy to set up and your employees will benefit from direct deposit through funds availability and not having to go to the bank.