Celebrating 20 Years in Business • 2004 - 2024

The Many Wonders of Direct Deposit

Are you unsure about how to set up direct deposit for your employees or contract workers? Though it may seem daunting at first, especially if you’re not familiar with the process, direct deposits can be set up rather quickly.

Let’s start by defining direct deposit. In essence, a direct deposit is an electronic payment of funds from one bank account to another. It’s that simple! You transfer the appropriate funds from your business bank account to your employees’ bank accounts, all without having to worry about physical checks or cash.

When the direct deposit goes through, your employees will receive the electronic payment equivalent to their salary, and the payment goes directly from your bank account to theirs. Direct deposits result in an automated clearing house, or ACH, payment. Ultimately, direct deposits eliminate the need to pay employees physically. Instead, all payments are processed digitally.

How do direct deposits work?

You’ll need to initiate direct deposit payments with your bank. As you strive to set up direct deposits, the ACH will receive the direct deposit orders and then allocate them to the appropriate bank accounts in accordance with each of your employees. From there, your employees’ banks will receive those orders and distribute the proper amounts to the accounts of your employees.

The process of directly depositing funds into your employees’ accounts generally takes between one and two days. There are also many rules in place to eliminate safety and privacy risks.

Now, the exact timing of the direct deposits will often depend on your bank, the banks of your employees, the payroll software that you use and national holidays that may affect bank operations. Your payroll software and your bank can usually help you plan out your payroll schedule and subsequently your direct deposit schedule.

Cost of setting up direct deposits

So how much will it cost you to set up direct deposits for your employees? The exact amount that you can expect to pay will depend on a few different factors; namely, which direct deposit provider you choose.

Alternatively, if you use a bank, the costs of setting up direct deposits will depend on your bank’s fees and regulations. Generally speaking, banks often charge a setup fee that usually ranges anywhere from $50 to $149, according to the National Federation of Independent Business.

Some banks charge ongoing monthly fees, though many do not implement this practice, and others charge transaction fees as well. These transaction fees might be charged per pay period or employee. Once again, it all depends on your specific bank’s procedures and requirements.

Likewise, the dollar amount of the fees will vary, depending on the bank, the size of your business and your direct deposit agreement. According to NFIB, the average dollar amount of transaction fees can vary from $1.50 to $1.90 per deposit.

If you utilize payroll software or some sort of technology that has payroll capabilities, the fees that you pay will depend on the individual software. Many software programs give you access to direct deposit services at no additional cost, but not all software options include the direct deposit service as part of the subscription price. So look into these details before deciding which software program to utilize.

Setting up direct deposits with your bank

If you set up direct deposits through a bank, be prepared to provide recent financial statements to verify that you have the necessary finances to set up direct deposits for your employees. If you opt for a payroll software instead, you’ll need to input your business’s bank account information and respond to a verification email to confirm that you are the administrator of the account.

Most setup processes will require a direct deposit test as well as a small withdrawal from your bank account. From there, you’ll verify that the transaction was successful to confirm that the direct deposit process is working as it should.

You’ll also need to receive a signed authorization form from each of your employees before you can transfer funds to them electronically. With the help of HR software that employees can log in to and monitor as they please, employees can give direct deposit authorization within seconds.

It can take anywhere from seven to 10 days to officially set up direct deposits. The pay schedule that you set up for your employees will be up to you, but make sure the schedule you impose is one you can stick to so that your employees can rely on consistent payments.

Communicate the payment schedule with your employees and payroll administrators so that everyone is on the same page. Finally, you’ll want to set up a cutoff date so employees know when they must submit their hours for review and timely processing as part of payroll.

The benefits of direct deposits

From an employee’s perspective, they can expect to receive their direct deposit every pay period. Direct deposits arrive in employees’ bank accounts on a regular basis, so they will always know when to expect their payment and how frequently they’ll be paid. The predictability factor will also help them plan their personal finances accordingly.

For you, the employer, direct deposits can provide you with much better control over your business finances because you’ll know when money is going to be withdrawn from your account every month. Additionally, you won’t have to worry about the possibility of payments being stolen or having important data about your business in the hands of thieves with ill intentions.

The drawbacks of direct deposits

A potential hassle that you may face when setting up direct deposits for you and your employees comes down to the maintenance involved in creating new accounts. There will likely be undesirable fees and security requirements.

But at the end of the day, direct deposits are worthwhile for everyone involved. For more information about setting up direct deposit payments for your employees, contact us.


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Emily Gooding

Payroll Specialist

Emily is graduating in May with a BA in Business Administration from Lander University. She has gained valuable experience as a payroll intern for BMW. We are so excited to have her on the team and  to see her excel in her role as a Payroll Specialist.

Madison Capps​

Payroll Specialist

Madison received a BS in Psychology from Southern Illinois University in 2019. Since then, she has been working as a supervisor at Starbucks and earning her second degree, a BA in Administration and Accounting, from USC Aiken in the fall. She will be joining us as a Payroll Specialist and a valuable addition to our Paysmart team.

Kristen Wilby

Payroll Specialist

Before moving to South Carolina with her husband, Kristen worked as a Sales & Marketing Specialist for Premium King in Feasterville, PA, where she gained valuable experience in strengthening the brand and generating new business. Kristen also brings to our team several years of professional experience as an Executive Assistant and as an Office Manager, where she was first introduced to payroll. Kristen’s knowledge and her innate ability to establish genuine relationships contribute greatly to the team as we continue to grow and serve our clients.

Meg Whitaker

Payroll Specialist

Meg brings nearly twenty years of professional experience to the team. Most recently, she worked as a Payroll & Benefits Specialist in Centennial, Colorado. She and her husband recently moved back to the Carolinas for his job, and we were fortunate to find her! Before Colorado, Meg worked at CPI Security Systems in Charlotte, NC, for twelve years as a Billing Coordinator and Senior Administrative Assistant. She also gained three years of experience as an HR Assistant for a law firm in Fayetteville, NC. Her expertise significantly adds to our team and benefits our clients as we continue to grow!

Rachel McClaran, EA


Rachel plays a crucial role in developing Paysmart’s core processes and procedures, as well as overall strategy within the company. Rachel graduated from Bob Jones University and is an active member of the Junior League of Greenville and the South Carolina Association of CPAs. Her desire to serve her community has led her to become involved with several nonprofit organizations and to serve as the past Vice President of Finance for the Junior League of Greenville. Outside of the office,Rachel enjoys spending time on the water and traveling with her husband and their two children.

Hina Rogers

Payroll Specialist

Hina joined the Paysmart team in August 2022. She grew up in Portland, Oregon, before moving to Greenville, SC. She earned both a bachelor’s and a master’s degree in education. After college, she represented her alma mater as an enrollment counselor in the Southeast and Western states. She enjoys traveling, road trips, cooking, and quality time with her family. Hina looks forward to serving your company’s needs! 

Sharon Quantrille

Payroll Specialist

Sharon has spent several years in the accounting industry and has completed courses to hone her skills as a Payroll Specialist. Her background as an educator, professional musician, and Human Resources Generalist has contributed to her communication skills, commitment to professionalism, and organizational skills that make her a tremendous benefit to her Paysmart clients and colleagues. A graduate of Bob Jones University with a B.S. degree in Music Education, a Master of Music degree in Piano Performance and a Human Resources Generalist Certificate, Sharon spends her free time gardening, hiking, playing the piano, and spending time with her four adult children.

Haleigh Bates

Payroll Specialist

Haleigh joined our team in May of 2022 as a payroll specialist. Haleigh has over eight years of experience helping personal and small business clients with their financial needs. She received her Bachelor’s Degree from Georgia Southern University. She enjoys spending time with her husband and their three children, Caden, Addie, and Mason.  She likes to go hiking, spend time at the beach, and volunteer at her church in the children’s ministry. 

Courtney Rossello

Payroll Tax Manager

Courtney joined the team at Paysmart Payroll Services in September 2020.  She was raised in Simpsonville, SC, and graduated from Clemson University in 2009 with a bachelor’s degree in political science and a concentration in public administration.  Courtney began her payroll career in 2011 and currently works in the payroll tax department at Paysmart.  She strives to make every client feel comfortable knowing their payroll taxes and tax returns are handled accurately and efficiently.  Courtney is also a volunteer Treasurer for a local middle school in Greenville County.  In her spare time, she enjoys volunteering with special needs children, road trips, and spending time with her two daughters. 

Emily Hargrave

Senior Payroll Specialist

Emily received her bachelor’s degree in music from West Coast Baptist College. Since her college days, Emily has gained nearly 18 years of experience in office operations and project management. Emily joined Paysmart in 2017 and enjoys using her skills to support clients and the Paysmart team.

 At heart, Emily is a small-town country girl from the Midwest but is happy now to call the Upstate home, where she doesn’t have to endure harsh winters. Emily’s favorite ways to spend her free time are reading a good book, challenging herself with puzzles, and doing her best not to kill the plants in her garden.

Julie Shull

Client Success Specialist

Julie is the Client Success Specialist for Paysmart Payroll.  She joined the team as a Payroll Specialist in March of 2020. She received her Bachelor of Science degree from NC State University and earned an MBA from Gardner-Webb University while playing on the GWU women’s tennis team. After starting her career with Wilson Sporting Goods as a Financial Analyst, she took a few years off to raise twin boys until she began working for Greenville County Schools in 2014.  Julie enjoys spending time with her family and outdoor activities.

Brad Detandt

Payroll Administrator

A graduate of Northland International University with a BA in Counseling, Brad Detandt leads the day-to-day operations of the Paysmart team. He is eager to grow the firm’s client portfolio. He brings a diverse employment background in retail, manufacturing, nonprofit ministries, and business development, with
a specialized focus on team development and process improvement. Brad’s professional – and personal – mission is to “Be Great. Serve!” Brad enjoys spontaneous activities and weekend trips to state parks with his wife Miranda and his three children.

Stephen C. Stokes

Managing Partner

Stephen has more than 14 years’ experience working with individuals and businesses to meet their tax, accounting, and payroll needs. He has been the managing partner of Paysmart Payroll Services since January 2009. He is a licensed certified public accountant in South Carolina and Georgia. Stephen is also a member of the South Carolina Association of CPAs, the Georgia Society of CPAs, the American Institute of CPAs, and the Professional Association of Small Business Accountants. He has a bachelor’s degree from Bob Jones University and a master’s degree from Georgia State University. Stephen was born and raised near Atlanta, Georgia and moved to Greenville, South Carolina, several years ago. He enjoys spending time with his wife, Tiffani, and daughters, Madeline and Julianna. He is actively involved in his church and enjoys reading, sports, and other outdoor activities.