Direct Deposit: Speed up the efficiency of your Business

August 19, 2014
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Banco Popular’s Commercial Banking offers endless benefits, including Direct Deposit. This service allows you to carry out a wide range of transactions related to your employees. As an employer, you can transfer money to your employees’ checking or savings accounts, process payroll, reimburse expenses, commissions and others on a predetermined date. Also, it’s a flexible tool, since these transfers can be done to any financial institution.

We want your business to be more efficient administratively and financially. That’s why we work every day to refine our services so that you, as business owner, can have a better performance. Here are some important points about Direct Deposit that will help you make a choice that will be beneficial, not only for you, but also for your business.

Benefits for your company:

  • Lowers operation expenses because you do not have to print, store nor verify payroll checks
  • Avoids payroll discrepancy
  • A lost or stolen check is no longer a problem
  • Helps prevent fraud
  • Increases productivity in your business because your employees will be relieved when they know that their paycheck is already in their account

Benefits for your employees:

  • How much does it cost? Your employees do not have to invest anything because the service is complementary when you use Direct Deposit
  • Is there a long line? Avoid waiting in line for cash or check deposit
  • When will they have their money available? Your employees will have immediate access to their cashas soon as the day starts according to the stipulated deposit date
  • Are they on vacation, traveling, sick or absent? Their deposit will always be available on the stipulated day
  • If their account is with a different bank, can they benefit from this service? Even if your employees have their checking or savings account with another financial institution, they can still receive their direct deposit with no problem.

Processing electronic payments quickly and safely is one of the most important requirements to provide this service. Therefore, we use the Automatic Clearing House (ACH). Established by the National Automated Clearing House Association (NACHA), ACH is the most reliable, secure and efficient electronic network for exchanging payments and receipts. For these reasons it is used by financial institutions, corporations and consumers of Puerto Rico, Virgin Islands, and the United States.

Let us help you keep your business finances organized. Contact the Business Banking Center at 787-756-3939 or 1-855-756-3939 or access http://www.popular.com/negocios.

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