Reply
Highlighted
New Member
Posts: 5
Registered: ‎09-16-2012
0

direct deposit question

I am going to be opening a business bank account soon after running my small business transactions out of my personal accounts last two years. I have two employees (who I have paid by cash for the last year) who will want to be paid direct deposit if possible. Can I do this with a business checking account or is that only if I set up with a payroll company?

 

I don't want to employ a payroll company but I do distribute 1099s at year end and pay my own business taxes.

 

 

 

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: direct deposit question

I've never done this, but you can set up a direct deposit account via your bank. Check with the bank you run payroll out of. I know ours was always asking us to go with them, but I don't know how they'd do it. I use a payroll company now though. If you use software like Quickbooks, you can run it out of that too.

Frequent Contributor
Posts: 474
Registered: ‎04-09-2012
0

Re: direct deposit question

You can definitely do it through Quick Books if you use their software.

Barclays USAir World MC $8300 - DCU $7500 - USAA World MC $7000 - PayPal Extras MC (GE) $5500 - Chase Saphire Preferred $5000 - Discover It $6000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.