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Direct Deposit
A method of electronically transferring funds from an organization, such as an employer or government agency, into an individual's bank account.
More Details
A direct deposit is a way to electronically transfer money from an organization, such as an employer or government agency, into an individual's bank account. Direct deposit is a convenient and secure way to receive payments, as it eliminates the need to receive a physical check or cash and deposit it into your account.
Example
You just started a new job, and instead of receiving a physical paycheck, you opt into direct deposit, meaning your paycheck is automatically transferred to your bank account electronically.
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