0 an arrangement in which money is moved electronically into a bank account: --
1 an arrangement in which money is moved electronically into a bank account: --
Cheques are still widely used for government cheques, payroll, rent, and utility bill payments, though direct deposits and online/telephone bill payments are also widely and increasingly used.
In recent times, the physical paycheck has been increasingly replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll card.
The customer gets the simple benefits of having a credit or debit cards, such as making online purchases, direct deposit, staying in hotels that require a card, etc.
When a direct deposit is made to the wrong account holder or in a greater amount than intended and a chargeback is made to correct the error.
The amount is deducted, along with a fee, usually about 10 percent of the amount borrowed, when the next direct deposit is posted to the customer's account.
Direct deposit can be used only if expressly authorized.
As of 2006, tax filers may now split their tax refund with direct deposit in up to three separate accounts with three different financial institutions.
A standing order involves fixed payment amounts paid periodically, while a direct deposit can be of any amount and can be casual or periodic.
