The Benefits of Direct Deposit
In an ever-changing world, efficiency has become paramount whether at home, work, or even play. So why not with the way we get paid? This is where direct deposit comes into play, making the process convenient for both employees and employers. The process is a as simple as submitting a voided check to the employer, which has all the pertinent information regarding the employee’s bank account. With the evolution of the smart phone, and its integration into our everyday lives, employees can now view their pay stubs from anywhere, before they are deposited into their accounts, resulting in less surprises on payday.
Whether on vacation or sitting at their desks, the employee can focus on the task at hand, knowing their funds will be available without fail. And then there are the long lines at the bank, which nobody cares for. Plus, this is valuable time that an employee could have been using to finish a project, or better yet, using that time efficiently to help them get out of the office a little earlier that day, giving them that much-needed family time.
Direct deposit not only provides added benefits for the employee, but also to the employer. Some people never stop to think what goes into their printed paycheck. So, let’s take a minute to understand the process of the printed paycheck. First off, you need an actual paycheck to print on, so paper is a necessity. Next, well, you need ink and a place to put the ink to use, so a printer is needed. Now the check is printed and needs a home, this is where the envelope is introduced into the process. The final step, stuffing the checks and mailing them to the intended user. These items must be purchased by the employer at some point during the process, whether they print the checks in-house or have a payroll provider, such as Charlotte Payroll, take care of the process. Not to mention with these moving parts, the potential for error greatly increases. With direct deposit, the paper, the ink, the printers, and the fear of reprinting lost checks have become a nonissue. With the press of button, employees are paid and employers can maintain consistency of payments. At the end of the day, everyone is happy with direct deposit.