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.
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