Mandating direct deposit

Direct deposits are Electronic Funds Transfers (EFT) governed federally by the Electronic Fund Transfer Act.

If so, depending on which state your business is located in, you might be required to issue paychecks to workers who prefer it.

Employers may require a new employee to sign up for a direct deposit as a condition if hire unless the cost to the employee of establishing and maintain an account would effectively reduce the employee’s wages to a level below the minimum wage.

Private employers except those involved in farm, dairy, agricultural, viticulturally, or horticultural pursuits; stock or poultry raising; household domestic service; or other employment in which a written agreement provides different terms Depending on state laws, employers can require their employees to receive payments via direct deposit.

Pay discrepancies are easily resolved without checks getting lost in the mail or stolen.

There are countless advantages over paychecks, here are just a few: When employees have easy access to funds and paystubs, they can spend less time on banking and more time impacting your organizations bottom line.

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