Direct deposit also offers faster access to paycheckstubs than traditional paper checks. With direct deposit, your pay is deposited into your bank account on payday, which means you can access your funds immediately. This can be particularly helpful if you have bills or expenses that must be paid immediately.

In contrast, paper checks can take several days to clear, delaying access to your paycheckstubs. This delay can be particularly frustrating if you have bills or need to purchase. Direct deposit eliminates this delay, giving you faster access to your hard-earned money.It can also help you avoid overdrafts or other fees associated with traditional banking. If you set up direct deposit, you can usually avoid monthly account maintenance fees or minimum balance requirements, saving you money over time.