Direct Deposit

Hello G., If you have an opportunity to set up a direct deposit, do it. It's the greatest thing. When you get paid, instead of having the actual paycheck at work you will only get a stub. The money will be directly deposit to your bank account at midnight of the day before. However the actual availability might be by 8-10am at your bank. This works the best if you are away from home (vacation etc) and the money is always in the bank on every day you get paid. There are always some situations with checks being delivered late to a company, lost due to weather conditions or human error. Direct deposit will never fail. In addition you will never have to go to the bank to cash your paycheck again. I love the idea of having some of % of direct deposit directly to checking and some % of direct deposit directly to savings. It's a great way of bugdeting and saving your money. Happy Savings!!!

Hi G.,

Direct deposit means that you get your pay check deposited into your bank account electronic. Instead of you always having to worry about getting to the bank before they close to deposit your check it's done for you. It's one the greatest thing to have. My husband and I both use direct deposit. It is fast. Another great thing about having direct deposit is that you can do a split deposit. What I mean by that is when my husband and I get paid, half of our pay check goes to our checking and the rest goes to our saving. You can decide how much you want to go into each account. It's wonderful if you are trying to save. I think you should go for it. Of course, make sure you read and talk it over with your employer more. I hope was a help. Good Luck!

C.:)

We have had it for years and I must say, I can't stand the "old-fashioned" way.

I don't know about "faster" access to your money per say, but the fact that neither of us has to sit in the tedious line at the bank is worth it's weight in gold to us! Someone else already pointed out the ease pertaining to vacations and savings potential. It's the only way I like getting checks. I hate going to the bank! :)

Hi G.,

Say your husband gets paid today. Well at 7:30am or 8:00 when
your bank up dates the accounts the money is there in your account.Whatever day he gets paid the money is there that morning.Hope this helps.Also it might say pending but you can
still get money out because the bank knows its coming they just dont have the paperwork.Just give your bank a call to make sure. I know Bank of America says pending but you can still get your money out on your payday.

C.