According to a new study commissioned by NACHA – The Electronic Payments Association, 89 percent of split deposit users see it as an employee benefit that helps them save time and money. Employees who use split deposit, or split their pay among various accounts using Direct Deposit via ACH, are more likely than non-split deposit users to contribute to savings each month. The study, released today as part of America Saves Week, reveals that 93 percent of employed adults who use split deposit contribute to their savings every month. On average, those individuals who save any amount each month save approximately $467 per month. Conversely, only 77 percent of employed adults who do not use split deposit add some amount to their savings each month, and 23 percent contribute nothing.
Read the press release.
About payologie
NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable NACHA Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, NACHA represents more than 10,000 financial institutions via 17 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network. To learn more, please visit www.nacha.org, www.electronicpayments.org, www.payitgreen.org, and direct.nacha.org.
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