A better way to pay your employees.
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.