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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Direct Deposit
My boss is offering direct deposit for the first time EVER, starting this pay period.
He wants to charge us around $5 a check to use the direct deposit. He did NOT even ask us what banks we use yet, so he can't be referring to bank fees.
What gives? Can he do that? A "service charge", per se?
TIA
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Posted 1/4/06 1:44 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
LBG30
:)
Member since 9/05 3423 total posts
Name:
Noelle
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Re: Direct Deposit
I have direct deposit and I never heard of charging a fee-that's crazy!
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| Posted 1/4/06 1:45 PM |
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Aga
hello baby Albert
Member since 9/05 7750 total posts
Name:
Aga
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Re: Direct Deposit
what???? no way, there is no charge for direct deposit....
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| Posted 1/4/06 1:47 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Direct Deposit
not sure about the fees...prehaps they are trying to cover a cost that is put on them...
regarding banks..you should be able to but the money where ever you want it to go and not just a list of banks
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| Posted 1/4/06 1:47 PM |
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LFitzy79
can hardly wait
Member since 5/05 2650 total posts
Name:
Lauren
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Re: Direct Deposit
I've never heard of that....how many people are in your company??
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| Posted 1/4/06 1:47 PM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: Direct Deposit
I've never heard of that charge. 
ETA: I just asked my office manager, and was told that ADP (our payroll company) charges them $10 per person per payroll for direct deposit. Even so, I have never heard of a company charging their employees for it.
Message edited 1/4/2006 1:51:48 PM.
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| Posted 1/4/06 1:49 PM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Re: Direct Deposit
Never heard of being charged for Direct Deposit either!
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| Posted 1/4/06 1:51 PM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Direct Deposit
Can you please ask him what for? I would love to know his rationale on that!!
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| Posted 1/4/06 1:52 PM |
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QuoteTheRaven424
22 Months?!!!!
Member since 5/05 13659 total posts
Name:
And If That Isn't A True Blue Miracle
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Re: Direct Deposit
what a freakin ripoff
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| Posted 1/4/06 1:52 PM |
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Marcie
Complete Happiness :)
Member since 5/05 27789 total posts
Name:
LOVE being a Mommy!
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Re: Direct Deposit
My DH has it - no charges.
I used to have it at my old job - no charges.
I can't understand why your boss would charge you. That is crazy!!
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| Posted 1/4/06 1:54 PM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: Direct Deposit
ah haaaaa - It's probably a payroll service fee, and they're passing it on to us.
Thanks guys...
There are only 12 employees...I don't understand why they can't just absorb the cost!!!
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| Posted 1/4/06 1:56 PM |
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LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
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Re: Direct Deposit
dh & I both have direct deposit and we don't incur any charges. Maybe he wants you guys to pay what he pays the company he uses. 
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| Posted 1/4/06 1:56 PM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Direct Deposit
Posted by Shorty
ah haaaaa - It's probably a payroll service fee, and they're passing it on to us.
Thanks guys...
There are only 12 employees...I don't understand why they can't just absorb the cost!!!
I always thought that it was cheaper for a company if people used direct deposit?
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| Posted 1/4/06 1:57 PM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: Direct Deposit
Posted by DebG
I always thought that it was cheaper for a company if people used direct deposit?
me too
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| Posted 1/4/06 1:57 PM |
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krwm
<3
Member since 7/05 3466 total posts
Name:
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Re: Direct Deposit
I've heard of this. A lot of smaller companies charge a $5 fee, either its a processing fee or bank fee. Not sure which it is...but yes I have heard of this.
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| Posted 1/4/06 1:58 PM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: Direct Deposit
My parents and Rich said I'm crazy - I should tell them to take their $5 and shove it.
hahah - it's $5! Not $20...
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| Posted 1/4/06 1:59 PM |
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DebG
Pick a cause & stand up for it
Member since 5/05 18602 total posts
Name:
The cure IS worse!
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Re: Direct Deposit
Posted by Shorty
My parents and Rich said I'm crazy - I should tell them to take their $5 and shove it.
hahah - it's $5! Not $20...
how often do you get paid? could be 20 a month and almost 250 a year....
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| Posted 1/4/06 2:02 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Direct Deposit
The charge is for the service by the payroll company. That is why some small companies don't offer direct deposit. Companies like ADP and Paychecks charge for every check sent direct deposit.
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| Posted 1/4/06 2:03 PM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: Direct Deposit
NO WAY!!
I just checked our payroll bill, we pay a flat fee of less then $10 to have the direct deposit option and SEVEN CENTS for each deposit!
That is not an expense the employer should pass on to the employees! You should not have to pay to get paid!
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| Posted 1/4/06 2:04 PM |
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Re: Direct Deposit
Posted by DebG
Posted by Shorty
My parents and Rich said I'm crazy - I should tell them to take their $5 and shove it.
hahah - it's $5! Not $20...
how often do you get paid? could be 20 a month and almost 250 a year....
Exactly. I would not pay that!!!!
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| Posted 1/4/06 2:12 PM |
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trnity44
I hope you stay beautiful baby
Member since 5/05 8356 total posts
Name:
Liz
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Re: Direct Deposit
I've had direct deposit for about 3 years- and have never had to pay a fee to my employer. It actually doesnt even make sense to have a fee- if anything, its cheaper for him for you to have direct deposit- its less paper, less checks, etc.
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| Posted 1/4/06 2:13 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Direct Deposit
I don't have it, but if I did, I wouldn't have to pay for it. Some banks even offer $ off your monthly service charges, or free checking if you do have direct deposit.
I would go to the trouble of going to the bank myself and not pay the charge, just on principle alone
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| Posted 1/4/06 2:24 PM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: Direct Deposit
I get paid 2x a month..so it would mean $10 month, $120 for the year.
My bank is NOT close to my job, and I don't get there until after closing on Fri, and I work Saturday...so I never get to cash my checks until Mon or Tues!
Direct Deposit is a huge convenience...but is it WORTH $120 a year for me? ...that's the q.
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| Posted 1/4/06 2:27 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Direct Deposit
Posted by Shorty
I get paid 2x a month..so it would mean $10 month, $120 for the year.
My bank is NOT close to my job, and I don't get there until after closing on Fri, and I work Saturday...so I never get to cash my checks until Mon or Tues!
Direct Deposit is a huge convenience...but is it WORTH $120 a year for me? ...that's the q.
Open an account at Commerce - they are open Sundays and you can bring your change there too
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| Posted 1/4/06 2:32 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Direct Deposit
We don't have direct deposit at my company.
Another theory is that it's costly for the employer because the money is withdrawn immediately for payroll. Without DD, people (like me) cash their check days, even a week later so the money stays in their bank account and earns more interest for them.
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| Posted 1/4/06 2:33 PM |
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