What is Direct Deposit
Direct Deposit is also known as Electronic Funds Transfer (EFT). It is the transfer of funds from a bank account to an individual's checking or savings accounts at a participating bank, without the hassle associated with paper checks. Many businesses offer their employees the option of using direct deposit to receive their paychecks. Other online companies uses the same method to receive or make payments. Direct Deposits are usually processed faster than regular paper checks. It is convenient, safer and it is part of your monthly fees.
How it Works
You have several methods to load your TransCash card via Direct Deposit
- Receive your Payroll onto your Black card.
- Receive your Tax Refund onto your Black card.
- Receive funds from Paypal™, Google™ or Amazon™ onto your Black card.
- Receive ACH transfer onto your Black card.