And you'll never miss another lunch hour rushing around trying to deposit your check. Even when you're 3,000 miles away from home, we will deposit your check into your account on time. You get immediate access to your money on the morning of pay day. So if you're away on vacation or on business, you can still draw on your paycheck at an ATM or by check. Time equals Money Not only will you save trips to the bank, you'll save money, too.
Many banks offer reduced fees for customers with direct deposit.
Check with your bank to find out how much you could be saving. The process is simple. Carnegie Mellon notifies your financial institution electronically that a specified amount of money should be deposited in the account you designate. You receive an earnings statement from Carnegie Mellon when your payroll deposit is made. This statement indicates the amount of money deposited into your account, the date, gross pay, deductions, taxes etc.