In This Section
Bank of Bolivar is pleased to facilitate Direct Deposit payments for you.
Direct Deposit is the electronic transfer of a payment directly from the account of the payer to the account of the recipient. Benefits of Direct Deposit include:
- Convenience - your funds are deposited automatically, regardless of your ability to make a trip to the bank
- Speed - directly deposited funds are generally available to use more quickly than those from a traditional check
- Safety - electronic deposits reduce the possibility of lost, stolen, or misplaced checks
- Savings - considering gas, time, and other factors, one study estimates the costs of depositing a check oneself at $5.88; an employee receiving a paycheck every other week would save over $152 by using direct deposit!