| For most of us, banking is not necessarily fun - | | | | Here are the advantages of payroll direct deposit: |
| but is rather a necessary chore to be endured. | | | | 1. Signing up for direct deposit means you never |
| We need banking because we need checking (and | | | | have to visit the bank or ATM again to deposit |
| sometimes savings) accounts. Checking accounts | | | | your check. |
| allow us to go about our daily lives in today's | | | | 2. Your check is deposited automatically every |
| consumer-based world: using credit and debit | | | | time you get paid - there is nothing you need to |
| cards, writing checks, and withdrawing money | | | | do to initiate the deposit. |
| from ATMs. | | | | 3. Because everything is handled electronically, |
| Still, banking can take up a lot of your time. Going | | | | nobody will see your personal information. This |
| to and from the bank, in particular, is a | | | | can reduce the chances of identity theft |
| time-waster. In today's virtual world, any time | | | | happening to you. |
| you have to get into your car or walk more than | | | | Direct deposit is smart for anyone with a steady |
| a mile to get something done, there is usually a | | | | paycheck. And, it is an especially good idea if you |
| faster, more efficient alternative. | | | | are interested in online banking. Online-only banks |
| In the world of banking, that alternative is online | | | | often a lower fee structure than do |
| banking. With online banking, you are able to | | | | brick-and-mortar, traditional banks. Some even |
| transfer money, pay bills, and check your | | | | feature accounts that do not charge overdraft |
| balances - pretty much everything you used to | | | | fees (really!) - which is a relief to people who |
| do at the ATM machine. | | | | know that overdraft fees have become a huge |
| Of course, you still need a way to get your | | | | problem for many banking customers, young and |
| paycheck into your bank account. Deposits made | | | | old, well-off or those with modest incomes. |
| via paper check or sometimes cash are still the | | | | If you are interested in the convenience that |
| most common, since most wire transfers require | | | | comes with reducing the number of trips you |
| that you pay additional wire fees. However, if you | | | | make to the bank to a bare minimum, consider |
| have a steady paycheck from the same | | | | opening an account with an online bank that never |
| employer each month, you can take advantage | | | | charges overdraft fees, and be sure to set up |
| of payroll direct deposit. | | | | your paycheck to be deposited via direct deposit. |