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A fully automated technique of handling transactions is direct deposit. When a direct deposit is made, the payer sends a digital payment that is instantly deposited into the payee's bank account. The money will move without a physical check or a trip to the bank by either party.
A check is a form of bill of trade or other guaranteeing instrument for a specific sum of money. It is produced for use by the payor, who is an account holder at the drawing bank.
For your employees, a payroll card is a particular kind of prepaid debit card. Your company would put an employee's salary on their card on pay day. The card can then be used by the worker to make purchases and withdraw money from ATMs, exactly like a debit card from a bank account.
Direct deposit prevents salary theft and loss because there is no need for a paper check. Additionally, it eliminates the chance that a check will be lost or deferred in the mail. Where their money's going is under their control. Another way direct deposit offers employees flexibility and convenience is by giving them discretion over where their paychecks are sent.
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