Direct Deposit is a quick safe and easy way to get your employees their pay with minimal effort and time spent. Automatic payroll deduction reduces the time and effort it takes you to process, write, sign and distribute individual checks
Payroll Direct Deposit is a convenient pay method used by more than 300,000 companies nationwide. Over 50% of the workforce in the United States now use direct deposit as an employee benefit. Direct deposit allows companies regardless of their size to electronically send payroll, pension, or other payments to employee accounts. Direct Deposit is ideal for multi-state employers as well.
HOW DOES THE PROCESS WORK?
With NPS® Direct Deposit, all your employees can now benefit from direct deposit of payroll using the Automated Clearing House (ACH). Reduce payroll administration expenses and check fraud while providing a valuable service to your employees. With our EFT software, you control the entire process. Simply enter all your employees into the software database. Enter the payment amount for each employee. You then forward EFT amounts by encrypted modem file transfer to designated banks and institutions. An EFT report is provided detailing each deposit made including the destination bank's routing and transit number along with the employee's account number. The employer account is debited and the employee account is credited on payday.
Benefits to your company
There are many benefits and advantages to consider when deciding whether to use direct deposit services.
Lower expenses - reduce payroll administration expenses by eliminating check issuing, handling, and distributing costs. Less time reconciling checks, you have one entry for all direct deposit items. Minimal cost compared to time spent by employees cashing checks.
Protect yourself - reduce check fraud by electronically depositing funds directly into your employee's checking or savings account. No more lost or stolen paychecks. Increased security, no cash carried by employees. No more hassles by employees to go to the bank on payday to cash the check , and no special arrangements have to be made when employee is away.
Provide an added employee benefit - Excellent for salaried employees. Offer employees a convenient way to access their pay 24/7. Our system will accomodate different deposits for a single employee paycheck to any account at most financial institutions.
Employees prefer direct deposit. Your employees will love the safety and convenience of knowing that their paycheck is automatically deposited into their bank account every pay period. No more spending valuable company time for personal banking every payday!
How To Get Started
Direct Deposit creates a Win-Win situation for you and your employees. The end result is higher productivity and fewer loss man-hours!
Contact us today to discuss the specific requirements for your business!
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