Wages, tax rebates, and other perks are all paid by direct deposit. Because money is electronically delivered, there is no need to wait for them to clear. Learn moreĪn ACH is a name for this type of network (ACH). To transmit payments between institutions, direct deposit necessitates the use of an electronic network. Instead of a physical check, direct deposit is the computerized transfer of funds into a bank account. ![]()
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