Posted: 9:36 a.m. Monday, Feb. 25, 2013
Direct deposit is a great way to get your pay check or federal benefits checks like Social Security into your bank account. The main benefits of direct deposit include convenience, security, reliability and speed.
Direct deposit is generally more convenient because you do not have to worry about using time and fuel to deposit your checks. It simply goes directly from the payment source to your bank account.
Direct deposit is more secure in that you no longer have to be concerned about lost or damaged physical checks. In general, as long as employers are on the ball with making their payroll each pay period, the money will be in your account and available on the day reported. You can count on it.
Finally, in general, the money will make its way to your account quickly. It is available on the transfer date, so whether that is payday itself or the day you are appointed to receive a social security check, you will be set and funds will be available.