Paying employees via direct deposit rather than with paper checks provides big green benefits. But a recent survey shows small businesses are still not on the direct-deposit bandwagon.
Seventy-two percent of the more than 4,000 employed adults surveyed by NACHA, the electronic payments association, say their pay is deposited directly, while 27% get a paycheck and 1% are paid in cash. That's up from the 66% paid via direct deposit in a 2008 survey by the Consumer Federation of America.
But only 48% of employees at businesses with fewer than 100 workers are paid via direct deposit, and just 35% at firms with fewer than 30 employees.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.