Unlike many banking features, early direct deposit is relatively new; its adoption in the banking industry has grown in the past few years. Banking financial tech firms such as Chime®, Venmo and ...

Some customers still haven’t received their direct deposit paychecks following a “human error” last week deep in the plumbing of America’s banking system.

You can now use direct deposit switching to allow lenders to verify your income through pay stubs, bank statements and payroll data. Kiplinger. Save up to 74%. Subscribe to Kiplinger.

One of the most notable improvements brought by the AVS is the reduction in processing time for direct deposit modifications. Previously, changes made online could take up to 30 days to process.

Prior to this change, it took 30 days for direct deposit changes to be made. More than 72.5 million people, including retirees and children, receive benefits through Social Security.