Direct Deposit vs Paper checks: What’s the better option?

September 6, 2018, Author: admin

The Direct Deposit option gives you a chance to deposit your payroll to workers’ personal bank accounts without printing paychecks. There are several advantages to your organization, your employees, and the earth by moving to the alternative. Here are five motivations to make the switch to Direct Deposit!

  1. Help the earth.

By using Direct Deposit, you pay electronically. This means that the requirement for printed checks is eradicated. This helps the environment by decreasing paper checks, envelopes, and printer ink and wear. As indicated by electronicpayments.org, checks exude 3.6 million tons of CO2 to nature as they travel through the payment cycle!

  1. Save time and cash.

Printing paychecks requires a lot of time and effort. From printing the exact number of paychecks to maintaining a record of salaries and scribing exact paychecks and mailing them, paper checks require a lot of time and money. Simply think about each of the means you can dispose of by sending pay electronically! This spares your organization profitable time and cash.

  1. No more lost checks. No one is perfect, and that includes company representatives. With printed checks, there is an open door for lost checks. A representative puts a check in their pocket and forgets about it. Direct Deposit disposes off that probability, sparing managers the cost of republishing checks, and helping workers keep their compensation without any problems.
  2. Employees love it!

Workers get their cash speedier. On payday, cash appears in representative records flawlessly, instead of a paper check which takes time to process.  Direct Deposit means that funds are transferred straight into your account, without you making a trip to the bank or worrying about cashing checks.

  1. Improved security.

Direct Deposit can help shield you from misfortunes brought about by misrepresentation in view of fake, manufactured or altered checks.

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