According to a recent employer survey and whitepaper by Javelin Strategy & Research on behalf of NACHA, 82% of U.S. workers – crossing all age, income and other demographic categories – are paid by direct deposit via ACH payroll processing, up from 74% five years earlier.

Awareness is also strong, with 79% of employees who do not use direct deposit via ACH reporting familiarity with the service.

Why Employees Use ACH direct deposit:

  • 64%: their employer encourages or requires direct deposit
  • 53%: faster access to pay
  • 47%: no cost to employees
  • 38%: eliminates risk of losing paper checks
  • 37%: safer than other payment methods
  • 37%: paper checks are inconvenient to deposit

Choosing a Direct Deposit Partner

Employers have two options for providing direct deposit as part of their payroll offering: use your payroll provider's bank or use a provider that works with an ACH direct deposit specialist.

We offer ACH direct deposit payroll services through our sister company Cachet Financial Services, who has written the whitepaper, Third-Party ACH Payroll Processors vs. Banks. The whitepaper explains why our using an ACH direct deposit specialist costs you less and offers greater flexibility than using a bank for this service.

The ACH Direct Deposit Service from SBS

Our sister company Cachet has processed $150 billion annually in ACH transactions for more than 110,000 employers, and our management team has been part of the payroll and payroll tax industries since 1969.

Additional highlights of our ACH direct deposit service include:

  • 10-30% lower pricing than providers using a bank
  • Ability to process ACH direct deposits on weekdays until 6pm PST/PDT
  • NACHA third-party registration of your clients, saving you a lot of time
  • SSAE 18 SOC 1 Type 2 certified
  • $50 million crime bond

Contact us to learn how our payroll, HR and ACH direct deposit service can reduce the cost, time and headache of your payroll today.

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