Direct Deposit
Direct Deposit
Employees may have their net pay directly deposited into a checking or savings account at any financial institution in the United States. Direct deposit information can be . This allows you to add, view or update your direct deposit information for Payroll deposits.
Benefits of Direct Deposit
Convenience - Save time! With direct deposit you won’t have to worry about making a trip to the bank to deposit your check. Depositing physical checks can take several days to clear, causing a delay in access to your pay. With direct deposit, your pay will be immediately available to you in your bank account on pay day.
More Control of Your Finances - In Oracle you can set up multiple bank accounts and dictate the amount that goes into each every pay period. For example, you can have a set amount or percentage automatically sent to your savings account. This is a good tip to save money over time without having to think about it!
Reduced Risk - You won’t have to worry about losing or misplacing a check. With direct deposit, you can be confident you will receive your paycheck to your bank account each pay period without having to worry about keeping track of a paper check. There is also greater security with direct deposit as there is no risk of your information being stolen from a physical paper trail. Direct deposits are encrypted keeping all of your data safe and secure.