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What is Direct Deposit?
With Direct Deposit, instead of issuing a paper check as payment - a check which has to be physically cashed - your business generates an electronic transfer of funds made directly to your employees, retirees, or shareholders. For example, if your employees have their paycheck direct deposited, you pay them electronically by having money transferred from your company account into their personal account. Other types of payments which can be direct deposited include:
To find out more about the benefits of Direct Deposit at 1st Source, click here. |
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