BANKING AFFAIRS

Detailed explanation-1: -With direct deposit of your paychecks and automatic payment of your bills, you don’t need to worry about mail delays and shuttered bank branches. You can access the money faster, avoid missing deadlines that could hurt your credit score and you may even qualify for discounts and other perks.

Detailed explanation-2: -What is direct deposit? Direct Deposit (Electronic Funds Transfer) is the electronic transfer of your paycheck, benefit check or other payment into your checking, share draft or savings account, or other low-cost account offered by your bank.