Direct deposit can help simplify your business life. It is a secure and confidential way for small businesses to deposit wages or benefits into an employee's account electronically.

With direct deposit, businesses save time and money by eliminating the expense of preparing and generating paychecks. Instead they can pay employees electronically by automatically depositing wages and benefits into the employee's personal account.

Direct deposit also eliminates the need of generating paper checks for expense reimbursements, tax refunds^*, pensions, dividends, commissions and bonuses.

The benefits of direct deposit include:

• Safety and security - Payments made by direct deposit have not been lost, misplaced, stolen or forged.
• Saves time and money - More cost effective than generating paper checks because it helps reduce postage and processing costs for mailing, disbursing and reconciling payments.
• Reduces the risk of fraud - Ensures the payment is deposited directly into the employee's account.
• Control of funds - You control the date of withdrawal from your business account, so you will always know the date the money is deposited into your employee's account.

U.S. Bank offers small businesses two solutions that provide direct deposit capabilities: ADP Payroll Services and U.S. Bank SinglePoint Essentials^®.

If your business already offers direct deposit to your employees and would like to increase the usage of the service within your company, you may want to consider our Workplace Banking program. Workplace Banking is a package of free and discounted services that businesses can offer their employees as an incentive for enrolling in direct deposit.

^*U.S. Bank is not a tax advisor. When it is appropriate, you are encouraged to seek professional tax advice.