how it works

direct deposit

“Instant access to your pay”

Direct deposit allows your employer to deposit your pay directly into a bank account or onto a powercash card.

Just before payday, your company sends payroll information to its bank. For employees not enrolled in Direct Deposit, the Bank writes paper checks and sends them to employees directly or to the company for distribution.

Employees who receive paper checks must cash them at a bank or deposit them in a bank account. If an employee doesn’t have a bank account, they may have to take their check to a check cashing establishment where they may be charged a fee just to get their money. As you might imagine, this process takes time and may also be expensive.

Employees enrolled in Direct Deposit have it much easier.

Just before payday, at the same time your company writes checks, they also send instructions to the bank to Direct Deposit money into employee bank accounts or powercash payroll cards.

On payday, these employees don’t have to do anything. Their pay is electronically moved from their company’s bank to their personal bank account or powercash payroll card.

Employees who have a powercash card can begin putting their money to work for them immediately on payday, shopping where Visa Debit cards are accepted, withdrawing cash at ATMs or transferring money.