Direct Deposit Service

Your company can save time and money by depositing paychecks into your employees' bank accounts. Direct Deposit is convenient for your employees, reducing the time required to reconcile your monthly statement. In addition to payroll transactions, the ACH (Automated Clearing House) credit service can be used for employee reimbursements, commissions, bonuses, pension payments, shareholder dividends, and other payment types.

Features

• IBC's Direct Deposit payroll service uses the standard National Automated Clearing House Association (NACHA) file format that is available from most payroll systems
• By using IBC Link, files can be sent directly from your payroll system or an available template online.

Benefits

• Reduces payroll costs and makes account reconcilement quick and easy
• ACH transaction costs are lower than payroll check transaction costs
• Minimizes or eliminates costs associated with stop payments and check re-issuance
• Convenient for employees who frequently travel for business

For more information, please contact an IBC Bank representative or visit your nearest IBC Bank branch