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Press Release: Direct deposit helps employees save

Majority of small businesses that use direct deposit also offer split deposit

By Other Sources | Updated on February 25, 2011

HERNDON, Va., Feb. 24, 2011 — Small businesses empower employees to save automatically using Direct Deposit, according to a new study from NACHA — The Electronic Payments Association. Revealed today as part of America Saves Week, the study unveils that nearly three-quarters (71 percent) of small businesses who offer Direct Deposit provide the option for employees to split their deposit into multiple accounts.

“By enabling split deposit, small businesses are delivering a valuable employee benefit,” says Janet O. Estep, NACHA president and CEO. “Split deposit means employees put money aside before it hits their checking accounts, and they don’t become reliant on it for daily expenditures. It is a simple, safe, smart, automatic way to save.”

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