Here’s everything you need to know about using direct deposit:
You may use the address of any branch of your bank.
But exactly how fast is this kind of payment? Although direct deposit can be near-instantaneous, the actual time frame for the money to hit your account can depend somewhat on where the money is coming from. Direct deposit does not have any of these potential safety issues. Since the money transfers automatically from the payer’s account to your account, it cannot be lost or stolen. In fact, the Social Security Agency brags that not a, when beneficiaries were first offered the option to receive direct deposit.
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