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| Home » Payroll Services » Full Service Direct Deposit |
| Full Service Direct Deposit |
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 Direct Deposit: If an employee elects direct deposit, PSP will deposit paychecks directly into their bank account. The funds can be divided and directed into several accounts, such as checking and savings, and even accounts in different institutions.
Benefits of FSDD to the Employer
- More efficient use of employee time (ie. no time standing in bank lines!)
- No chance of employees stealing a "peak" at another's paycheck
- Employee receives funds precisely on pay day
- Minimizes risk of lost or stolen pay checks
Benefits of FSDD to the Employee
- Direct deposit transactions are fast, reliable, confidential, convenient and safe
- No lost time because you have to "run out to the bank," or "rush to make a loan payment."
- Immediate access to your money - no need to wait for "the check to clear."
- Since there's no paperwork, your paycheck can't get lost or stolen. It eliminates the hassle and expense of replacing lost or stolen checks.
- Helps you manage personal finances more effectively
- You can control where and how much money goes into your various bank accounts, as well as those you share with someone.
- Most banks offer free accounts with direct deposit
- Direct deposits are usually authorized a day in advance of payday, and frequently the transaction is processed so you get your money a day earlier than everyone else.
- You don't have to make special arrangements to get your paycheck if you're out sick or on vacation on payday
- No waiting in line at the bank, check cashing place, etc to get your money
Payroll Deductions: We offer direct deposit and administer voluntary and court ordered payroll deductions such as child support payments and IRS garnishments.
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