Why Direct Deposit?

5/23/2005

We have many benefits here at ABX AIR. It seems some of them are not in the limelight as much as others. We all know the cost of health insurance, wages, etc., but we have a tremendous benefit here that too often goes unnoticed.

All ABX employees are eligible to have their payroll checks directly deposited. It doesn’t matter whether you’re full-time, part-time, casual, or temporary, whether you’re outbased or work at ILN. Volunteers and folks with two jobs can also have your money deposited for you in the same accounts as your primary job or in completely different accounts or even different banks. No matter what is going on in your life, your money will go directly to the bank account you choose, saving you time, trouble and worry. This service is absolutely FREE!

Convenient and Reliable - Your money will be in your account whether you are on vacation, sick, or just too busy to deposit a check. Direct Deposit is convenient and saves you time. Most employees here do not have work hours that coincide with banker’s hours. They are closed when most of us come in and when we go home. Have you ever figured the time and money wasted by driving to the bank, the hassle of traffic and waiting in line, waiting for a teller? No more extra trips to pick up paychecks; direct deposit can make this all disappear!

Safe and Secure - When there is no check, there is no threat of theft or potential for loss.  Direct deposit is more confidential. A check passes through many more hands than an electronic transfer. No hassles trying to find a bank to cash your check. No waiting in line or getting stuck in traffic to get to the bank. No more problems with ATM’s that don’t have deposit envelopes. You don't have to be in town for your money to be securely deposited into your account. Many banks make you wait to use your own money if presented in check form for deposit. Not so with direct deposit, it’s ready and available for use at the opening of the bank’s business day on payday. Some banks offer free checking as well as free personal checks if you sign up for direct deposit of your payroll check.

ABX has also worked closely with BANKONE and can now offer an account with 100% approval for all applicants with no minimum balance required. No one will be turned down regardless of his or her credit history.

Direct deposit gives you control. Financial planners recommend direct deposit as one step towards gaining control of your finances. Direct deposit is a great way to set aside money in a savings account. It helps to keep that money from burning a hole in your pocket when you cash your whole paycheck. You can also deposit money to an investment account or IRA before you have a chance to spend it, and you start earning interest as soon as the money hits your account.

Direct deposit has been around for more than 26 years and approximately 130 million people in the United States use direct deposit. It has a proven track record of success- "the satisfaction rate of people that use direct deposit is 97 percent"-Federal Reserve. When was the last time you saw 97% agreement regarding ANY topic? Direct deposit is SAFE. The U.S. Treasury Department replaces more than 800,000 lost or stolen checks each year. Direct deposit has never lost a payment.

Source: Direct Deposit and Direct Payment, www.directdeposit.org , www.directpaymen.org and Credit Union Consumer Facts, CUNA

Copyright © 2005. ABX Air, Inc. All Rights Reserved.
Please see ABX Air, Inc.’s terms and conditions for use of this web site.
Revised: May 23, 2005.