Direct Deposit
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Direct Deposit
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A direct deposit or direct credit in banking is a deposit of money by a payer directly into a payee s bank account Direct deposits are most commonly made by businesses in the payment of salaries and wages and for the payment of suppliers accounts but the facility can be used for payments for any purpose such as payment of bills taxes Direct deposits are often instantaneous but they can take one to three days depending on your bank and the source of the deposit Paychecks and government benefits are typically available immediately but they can hold the funds until the next business day

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Direct Deposit