Your Money, Your Goals - A financial empowerment toolkit for social services programs.

Direct
deposit

Employee pay is

electronically routed to

your bank or credit

union account or your

own prepaid card

without the use of a

paper check.

Safer and more secure

than carrying cash or

checks

Funds are usually available

immediately.

Reduces trips to bank

Funds can be accessed via

a debit card, ATM card, or

personal checks.

If the direct deposit is made

to a checking account, the

account’s debit card has

full consumer protections

for funds taken by error or

theft.

Income can be routed to a

bank or credit union

account.

Many employers allow you

to split your deposit

between a checking and

savings account, which can

help you build savings.

No check cashing fees

If direct deposit is made to

a prepaid card, the card

may lack full consumer

protections for funds taken

by error or theft.

Potential overdraft fees if

employee writes checks or

uses debit card without

sufficient funds

Requires some extra effort

to access cash when cash

is needed

May not be offered by all

employers

 This is a good option for me. Ways to get more information:

 This is not a good option for me.

Payroll
cards

Prepaid cards arranged

by an employer through

which employees

access their salary or

wages

Safer and more secure

than carrying cash or

checks

The payroll card has full

consumer protections for

funds taken by error or

theft.

Potential inactivity and

service fees

Potential overdraft fees if

employee uses card

without sufficient funds

Requires some extra effort

to access cash when cash

is needed

 This is a good option for me. Ways to get more information:

 This is not a good option for me.