It used to be that direct deposit was a luxury, but now, as it has grown to be the norm, employees have come to expect it. Payroll Service Solutions offers direct deposit services that will keep your employees happy, while also taking a big burden off your plate when it comes to payday details.
Direct deposit is loved for many reasons. For example, it eliminates multiple steps that paper checks require for the funds to be accessible within an account, such as a trip to the bank and a long waiting period. Paper checks can take up to five business days to clear an account, but with direct deposit, funds are directly deposited to the employee’s account through ACH transactions. This means that on payday, employees immediately have access to those funds, without having to wait in a long line at the bank.
Another large perk to using direct deposit is the safety benefits. Generally, paper checks are much riskier because they can be lost, stolen, or fraudulently cashed. When using direct deposit, the money is directly debited from the employer’s account and deposited to the employee’s account so there is no room for theft or fraud.
Switching to an electronic pay system saves everyone involved both time and money. If you’d like to set up direct deposit or talk to us about how we can better your current systems, call Payroll Service Solutions today! We are proud to serve small businesses in the Philadelphia area as well as the entire U.S. with full-service payroll solutions.