Payroll Direct Deposit

Electronic payment service which allows employers to automatically deposit payrolls, reimbursements, commissions, and other payments directly into their employees’ checking or savings accounts at the bank and on the date of their choice.

How your business benefits:

• Not having to prepare, print, store, or verify payroll checks results in savings in operating costs.
• Easier to reconcile payroll account.
• Eliminates lost checks.
• Eliminates exposure to fraud.
• The peace of mind Direct Deposit offers your employees translates into increased productivity for your business.
• With Web Cash Manager_SM, you can generate your payroll from anywhere in the world via the Internet.

Advantages to your employees:

• Free – it costs nothing.
• Fast – eliminates the need to stand in line to cash or deposit checks.
• Accessible – deposit will be available in cash, early on payday morning, at any automated teller machines.
• Convenient – check will always be deposited on payday, even when the employee is on vacation or away from the office.
• Flexible – salary can be deposited in a checking or savings account at the financial institution of the employee’s choice, even if different from the employer’s.

For more information regarding these products and services, contact TeleBanco Comercial at (787) 756-9130 or 1-888-756-9130