It can also save you money. Some banks offer free or lower-cost checking with this service. It takes the hassle out of having to manually deposit your checks. Direct deposit allows you to access your money immediately, as soon as the bank receives your check. You need to find out from your employer if this option is available.
Banks understand the convenience of one- stop shopping.
It can save a great deal of time to go to only one place and get everything done. Banks call this relationship banking. Customers can hold all of their bank accounts, as well as credit cards, mortgages, investments, with the same bank. Unfortunately, this convenience may have an added price tag. There can be a minimum balance and high APRs mixed into this new relationship.