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How Financial Institutions Can Promote Electronic Payments

Direct Deposit Did you know that financial institutions save a $1.00 or more when a paper check is replaced with an electronic payment? Using weekly payroll as an example, if you multiply $52.00 by the number of account holders that receive a paycheck every week, you're looking at some pretty significant savings. Employer Benefits  Employee Benefits Frequently Asked Questions Cost Calculator ACH Sales Kit for FIs ACH Participant Training Poster Direct Payment Direct Payment is ideal for companies collecting recurring payments.  Take utility bills, for instance - What if each of your account holders paid 3-4 utility payments electronically, 12 times a year? The numbers are impressive.      Benefits for Companies Benefits for Consumers Direct Payment Consumer Enrollment    Green Calculator Environmental Statistics The Power of You (Video)                            Every year Americans mail 26 billion bills and statements and 9 billion payments in paper form. The production and transportation consumes 755 million pounds of paper, 9 million trees, and 512 million gallons of gasoline.  Direct Deposit and Direct Payment are good for the environment and good for you. EFTPS is the Electronic Federal Tax Payment System developed by the U.S. Department of the Treasury to help businesses conveniently pay their  Federal taxes electronically online or over the phone. It's convenient, secure, and free. Click here for more information about EFTPS, answers to frequently asked questions, and enrollment instructions. Financial Institution Handbook for EFTPS         Federal Benefit Payments The US Department of the Treasury and Federal Reserve Banks are sponsoring Go Direct, a campaign to motivate people who receive federal benefit payments to use direct deposit. More about Go Direct Teller Training Newsletters Go Direct Promo Materials for FIs

Marketing Electronic Payments Promoting Direct Deposit and Direct Payment can substantially increase usage.   Order promotional materials   NEW Posters         What is ACH? Click here to see the flow of an Automated Clearing House (ACH) transaction and a description of the payment system participants. About The Payments Authority    How can we help you?  For more information about electronic payments, education, membership and more, contact us.    There's a lot of good information available for you to share with your account holders.  Feel free to update your website by adding any of the links found on our Consumer and Company web pages! Click the buttons above to view Direct Deposit and Direct Payment information from a different perspective.