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Why would a company not offer Direct Deposit? - wonderingY

Posted: Feb 13, 2015

It seems to be a win-win for both transcriptionist and company with time saving and cost saving. So, why would they not offer it? Makes one wonder if the company is financially sound.

Answer - see msg

[ In Reply To ..]
They may require that ALL employees have a checking account before doing it. Not everyone has a checking account.

Apparently, some people use money orders to pay bills or perhaps they live "at home" with the folks.

Meant to Mention - Turnover Rate of Employees

[ In Reply To ..]
I also meant to mention that if the turnover rate of employees is crazy high, it's not worth the paper work for the company.

Lots of reasons - Why worry

[ In Reply To ..]
It may be employee turnover, it may be the size of the company, number of employees and the time it takes to set things up. I am not sure if every bank offers direct deposit. As mentioned, there are probably people who don't have bank accounts and when people change banks there is paperwork involved. My employer encourages us to use direct deposit but when I recently changed credit unions I was issued 1 or 2 paper checks while they completed the account set up, it all involves work for HR and payroll. Just some thoughts but I doubt if it has anything to do with your employer's financial stability (anyway, I hope not).

If the company HQ - is in

[ In Reply To ..]
a small town with limited banking options, the bank they use might not offer the option of electronic transfers, which they would need to be able to offer direct deposit. It's hard to believe any bank would not do that in the 21st century, but I encountered that very issue when I was handling a deceased relative's estate. The small-town bank where all the money was did not offer electronic transfers, so everything had to be done by paper check. This was an old, established bank, just very small. So, it happens and does not necessarily mean anything sinister.

why? - Simmie

[ In Reply To ..]
So they can take their times getting your checks to you............lie and say they are in the mail............among other reasons.

They can also fail to make a deposit - Lots of reasons

[ In Reply To ..]
Electronic deposit is not a guarantee that someone will get paid. They could close their bank account and skip town as well, leaving everyone high and dry. Without knowing the employer in question it would be difficult to know. I suppose the OP could also go to the source and ask her employer why they don't use direct deposit.

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