We process payroll for some of our accounting clients. We are thinking of offering direct deposit to a company with about 75 employees. Twenty of them would do the direct dep. What is a typical startup and ongoing charge? Thanks. rob
"Rob Peterson" wrote
Direct Deposit isn't any more complex from your end (processing) than say, printing the check. Yes, you still print a pay stub, but the act of direct deposit is simple if the software is set up right.
the fees I've found to be problematic for the client have all been at the bank end (the client/employer bank). The fees have ranged to reasonable to quite high depending on the bank's charges and the number of people that participate in the program and also bank with them.
So be aware of that end of the expense equation.
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