The Benefits of Direct Deposit
The Benefits of Direct Deposit
By: Wilmington Trust

XYZ, Inc. is a service firm specializing in the placement of temporary personnel into positions such as receptionists, bookkeepers, and accountants. They have 30 locations across the U.S. with headquarters in Delaware. Corporate headquarters centralizes all funds and handles the Company's borrowing and investing needs. At least two times per month, the Delaware office must express mail checks to the outlying locations to meet petty cash needs.

Cash Management Solution
Direct Deposit could be an efficient way to disburse payroll to employees at multiple locations. Deposit Concentration and Disbursement Services can facilitate the movement of funds to and from the concentration account in an efficient and cost-effective manner. To maximize interest income, excess balances could be swept into an overnight investment vehicle.

This article is for informational purposes only and is not intended as an offer or solicitation for the sale of any financial product or service or as a determination that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on their objectives, financial situations, and particular needs. This article is not designed or intended to provide financial, tax, legal, accounting, or other professional advice since such advice always requires consideration of individual circumstances. If professional advice is needed, the services of a professional advisor should be sought.

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