Direct Deposit
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CASA OFFERS TWO DIRECT DEPOSIT OPTIONS. (WITH OUR REMOTE SERVICES, CLIENTS CAN HAVE SAME DAY PAYROLL REPORTS, AS WELL AS YOUR DIRECT DEPOSIT FILE TOO TRANSMIT TO YOUR BANK.)
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Option 1
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Client downloads an ACH file from CASA, which they upload to their bank using Online Banking. Client has full control of Direct Deposit and can even make same day transmissions.
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THE CLIENT CONTROLS THE PROCESSING OF DIRECT DEPOSIT.
CASA RECOMMENDS THIS OPTION
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Option 2
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The client has given CASA the authorization to AUTOMATICALLY process the direct deposit file with the client’s bank. Same day transmission is not available with this option.
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THE CLIENT HAS SET-UP THE DIRECT DEPOSIT TO BE PROCESSED AUTOMATICALLY BY CASA.
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To the Employer:
- Service can be offered as an additional employee benefit
- Eliminates security and storage of blank checks and the need to buy and inventory checks
- Eliminates storage of canceled checks
- Solves payroll distribution problems
- Lowers payroll department costs for salaries and fringe benefits
- Reduces employee’s lost time for cashing checks on payday
- No confusing special arrangements to handle checks for people absent due to vacation, illness, etc.
- No lost or stolen paychecks resulting in stop payment and reissue orders
- With some applications, eliminates postage charges to mail checks
- No reconcilement costs because there is no reconcilement
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To the Employee:
- No more special trips to the bank and waiting in long lines to cash or deposit paychecks
- No more special trips to the bank and waiting in long lines to cash or deposit paychecks
- No possibility that a paycheck may be lost or stolen
- Payroll information is more confidential since tellers, grocery clerks, etc. no longer see the employee’s paycheck
- Encourages savings since employees may split their pay between a checking and savings account
- Funds are available immediately on payday
- Employees may have their net pay deposited in the financial institution of their choice
- Opportunities for special services such as free checking
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