Definition
The electronic transfer of funds directly into a bank account, typically used for paychecks or government benefits.
Example
After signing up for direct deposit, Stephanie no longer has to wait for her paycheck to arrive in the mail.
The electronic transfer of funds directly into a bank account, typically used for paychecks or government benefits.
After signing up for direct deposit, Stephanie no longer has to wait for her paycheck to arrive in the mail.