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Direct Deposit Financial Glossary

What is it? Automatically deposited funds to checking or savings accounts via a pre-authorized system. Customer government benefits or other payments are automatically deposited to their checking or savings accounts. Some types of Direct Deposits are Social Security, SSI, VA benefits, annuities, pension benefits, payroll checks and dividend checks (see our Direct Deposit webpage).

Finance Term Definition Added By: Nicole

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We hope you now understand the meaning of Direct Deposit. If you need any more information on this term, please don't hesitate to contact us.

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