direct deposit

Paycheck goes electronic

Direct deposit is an electronic transfer of funds directly into a bank account, bypassing physical checks.

Most commonly used for payroll: My paycheck goes in by direct deposit every Friday.

Also used for tax refunds, government benefits, and recurring payments.

The sender initiates the transfer; the recipient simply provides account information.

payroll

paycheck

Compensation for labor

wagesPayment for work
salaryFixed periodic employment payment
earningsMoney gained from work

compensation · net pay · gross pay · deductions · withholding · taxes · pay stub · payday · benefits · overtime

banking

electronic transfer

Digital funds transmission

routing numberBank branch identifier code
account numberUnique client identifier digits
checking accountBank deposit for transactions

savings account · bank account · financial institution · credit union · online banking · EFT · electronic funds transfer · available balance · FDIC · transaction

employment

employer

One who employs others

employeeHired organizational member
HREmployee management department
human resourcesEmployee administration department

onboarding · new hire · job · workforce · gig economy · freelancer · contractor · self-employed · pension · retirement

convenience

automatic

Operating without intervention

paperlessUsing no printed materials
effortlessRequiring no strain
seamlessWithout visible joins

time-saving · reliable · secure · instant access · early access · enrollment · setup · recurring · hassle-free · contactless

Categories

bankingbank, banks, ATM, ATMs, account
money managementsaving, savings, budgeting, budget planning, expense tracking
paymentspayment, monthly payment, cash payment, payment date, credit cards
savingssavings account, piggy bank, online savings, savings bonds, savings plan
depositsCD, FDIC insurance
automated paymentsautopay, bill pay, standing order, automatic deduction, subscription fees

Opposites

payment delivery method

direct depositcash payment

Transaction using physical currency

check · cash · money order · cashier's check · wire transfer

automation and recipient effort

direct depositcash in hand

Physical currency possessed now

collect on delivery · COD · cash on delivery

physical vs. electronic form

direct depositcash

Ready spending funds

paper currency · hard currency · coins · banknotes · cash in hand

Family

direct, direction, directly, director, deposit, directory, directive, deposited, deposition

Familiarity: Top 100,000
Profile: Timeless · Everyday, not technical · Rated G