DIRECT DEPOSIT

Many employees have become accustomed to the convenience and dependability of receiving their paycheck by Direct Deposit into their personal savings or checking account at the financial institution of their choice. Whether you process your company’s payroll internally or outsource it to a vendor, Wachovia offers a cost-effective service to originate and transfer electronic payments to your employees: the Automated Clearing House (ACH).

Wachovia offers three convenient ways for you to create and transmit an ACH file for Direct Deposit service:

• Direct Transmission – Input data to Wachovia and payment information is sent as a standard NACHA file via direct transmission or through a third-party vendor.  

• WebACHieve^SM and ACHieve^® – Use our Web-based or PC-based database system to easily input, store, generate, format, and send Direct Deposit transactions. 

• Wachovia Connection^®  Express – Initiate single-item ACH payments through the Web - ideal for low-volume Direct Deposit payees.

Direct deposit of payroll benefits:

• Gives your employees access to their money on the morning of payday
• Eases the burden of distributing pay to employees located in outlying areas
• Eliminates lost or stolen paychecks
• Reduces stop payments and reissue hassles
• Lets you know the exact timing of the payroll debit

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