Direct deposit means that your company or organization is able to transfer payments electronically into the checking or savings account of an employee, retiree, taxpayer or shareholder.
Using direct deposit services from INB will save you the time of processing and reconciling your accounts and save you the costs that occur from reissuing checks. Direct deposit is facilitated through direct transmission of a payments file or encrypted internet ACH file and the payment can usually be divided among multiple accounts if needed.
Direct deposits can be used for many types of payment, including:
- Bonuses and commissions
- Dividend and interest payments
- Travel expense settlements
Direct deposit provides your business with:
Reduced overhead. Your business will see lower issuance, delivery and reconciliation costs.
Immediate access. Funds are available on payday.
Increased efficiencies. Direct deposit streamlines your payment process and improves cash forecasting.
Fraud reduction. Eliminating checks increases security and reduces risk of fraud.
Give us a call at 217-747-5500 or 877-771-2316, so that we can put together a program of direct deposit services that fits your needs. INB also offers a special package for your employees who choose to bank with us. We’re available to come to you, in order to meet your employees, answer your questions and provide assistance to your employees who are interested in opening accounts with INB.