Trips to the bank or ATM to deposit checks are no longer necessary, saving time.
Payments can be divided into multiple accounts, such as a checking account and a savings account.
Keep accurate records
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Using the account information from a deposit slip instead of a voided check
Compensating independent contractors
Payroll providers usually include direct deposit as part of their basic service for small businesses with no additional fees. Banks and third party applications, however, may charge employers per wire transfer, per employee.
This guide is intended to be used as a starting point in analyzing direct deposit and is not a comprehensive resource of requirements. It offers practical information concerning the subject matter and is provided with the understanding that ADP is not rendering legal or tax advice or other professional services.
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