Direct Deposit

A better way to pay your employees.

Overview

Consider the hours you spend issuing cheques to your employees and the special trips they make to the bank to deposit them. With Scotiabank’s Direct Deposit service, you both save time.

Your payroll is electronically deposited into each employee’s designated account. The risk of cheques being lost or stolen is eliminated, and the money is instantly available – no waiting for funds to clear! Direct Deposit also saves your business money. You avoid the costs of cheque handling, printing and storage, and reduce or eliminate cheque reconciliation expenses and cheque fraud. Plus, you know exactly when your payroll has been processed so you can better manage your cash flow.

Right for your organization if:

Regularly issue employee payments (e.g. payroll or pension)
Currently issue cheques or cash payments to employees
Use an accounting or payroll system to generate payment files

Benefits you can bank on

Explore other cash management services

Information Reporting | Direct Deposit | Disbursments | Collections | Wire Payments | Bill Payment Services

Find out how our Cash Management Services
can work for you. 

Speak with a Scotiabank Business Banking Representative today.