Direct Deposit and Payroll
Give your employees the convenience, reliability and safety of having their paychecks deposited directly into accounts they specify.
Middleburg Bank's Direct Deposit service offers an efficient way to handle payroll distribution as well as providing a valuable benefit to your employees. This service allows you to deposit your employees' pay directly into their checking or savings account at the financial institution of their choice.
How It Works
- Enroll participating employees in Direct Deposit by collecting their relevant bank account information.
- Combine this information with each employee's pay amount and send it to Middleburg Bank electronically at least two days before the scheduled payday.
- On the morning of payday, the funds are waiting for your employees in their bank accounts.
- Eliminates the expense of stop payments and reissues for lost or stolen paychecks.
- Reduces costs associated with reconcilement, postage, and check printing.
- Simplifies the distribution of payroll to offsite employees.
- Eliminates special handling of absent employees' checks.
- Provides an excellent addition to your employee benefits package.
- Direct Deposit may also be used to deposit expense reimbursements, pension payments, dividends, and other disbursements.
- Direct Deposit can usually be implemented at your company within 45 days of requesting the service.