Direct deposit electronically transfers your paycheck, benefits, or other regular payments directly into your bank account. Instead of receiving paper checks, the money appears in your account automatically, usually on the same day each pay period. You can also split the payments to multiple recipient accounts allowing you to automate bill payments and account management.

Direct deposit is faster, more secure, and more convenient than paper checks. You avoid trips to the bank, reduce the risk of lost or stolen checks, and often get access to your money earlier. Many employers require direct deposit, and some banks offer benefits like fee waivers or beneficial interest rates for customers who use it. Setting up direct deposit typically requires providing your employer with your bank's routing number and your account number.