Automatically deposit funds through the use of the Automated Clearing House (ACH) network.
It's not just for payroll. Use the Direct Deposit system for electronic expense reimbursement, shareholder dividends, vendor payments and much more.
The Pegasus Bank Direct Deposit service allows you to:
- Directly upload payroll files for processing
- Manually create direct deposit entries and create your own ACH batches
- Plan payroll in advance: If a payroll staff member will be out of the office, they may submit files up to 30 business days before the payroll date and we will warehouse them and process on the appropriate date.
Your employees will love the benefits of Direct Deposit. No more teller lines, check cashing fees or worrying about holds being placed on payroll checks. Funds are available immediately on the pay date.