Significantly decrease processing, reconcilement and check reissue costs with Direct Deposit from INB. Direct Deposit is the electronic transfer of a payment from your company or organization into the checking or savings account of an employee, retiree, taxpayer, or shareholder. The payment can usually be divided among more than one account. Direct Deposit is facilitated through direct transmission of a payments file, an encrypted Internet ACH file, or a diskette. For direct deposit of payroll, we also work with the major payroll service bureaus to receive and process payroll files.

The most popular application of Direct Deposit is for payroll, but it can also be used for many other types of payments, including:

• Annuities
• Bonuses and commissions
• Dividend and interest payments
• Pensions
• Travel expense settlements
• Tax refunds
• Social Security or other government payment

Direct Deposit provides:

• Reduced Overhead – Realize lower issuance, delivery and reconciliation costs.
• Increased Efficiencies – Streamline your payment process and improve cash forecasting.
• Immediate Access – Funds are available to employees, retirees, etc. on payday.
• Better Solution than Checks – Problems associated with lost and stolen checks are eliminated.
• Fraud Reduction – One of the best ways to reduce fraud is to eliminate checks.

As a benefit to your employees, we can offer a special package for those people that choose to bank with INB. In addition to our free checking product, benefits include reduced rates on loans and closing costs for mortgages. Give us a call – we’ll come out and meet your employees, answer any questions and provide assistance with account openings at your location.