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Convenience is one of the many benefits DIRECT DEPOSIT / NET PAY
provides, along with timely deposits, quicker access to your money
and knowing your money is earning dividends promptly. It's amazing
what a difference a day makes. Studies show that people who use
DIRECT DEPOSIT / NET PAY have account balances between 10 to 30%
higher than those who don't. You may deposit your entire check into
your account (NET PAY) or a portion of your check (Direct Deposit).
Let
us explain how DIRECT DEPOSIT / NET PAY works.
DIRECT DEPOSIT / NET PAY is a simple, reliable,
convenient, safe and secure way to handle your earnings. Rather
than receiving a weekly or monthly check, it would be directly deposited
into your account by your employer or government. You then receive
a stub for your earnings. DIRECT
DEPOSIT / NET PAY funds clear automatically so you can write share
drafts (checks) immediately or use your ATM/Debit Card without any
concern.
In
addition to DIRECT DEPOSIT / NET PAY, you can also
have PAYROLL DEDUCTION. This is a distribution
of your check into several sub accounts for the amount that you
specify. Consider this example: You can DIRECT DEPOSIT your check
into your share or share draft account and then use PAYROLL DEDUCTION
to pay your loan(s) or make deposits.
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