THIS IS HOW YOU CAN SAVE WITH DIRECT DEPOSIT
1. With most banks, having your payroll check direct deposited earns you free checking; sometimes with interest. If your bank doesn’t offer this, it might be worth doing some research to see if there’s another bank that’s convenient for you that does.
2. Arrange your direct deposit so that some of the money goes directly into your savings account. This is a great way to save money. The added bonus is that savings accounts typically pay more in interest than a checking account.
3. Realize the cost savings of not having to make a trip to the bank each time you get paid. It may not seem like much, but between the cost of gas and your valuable time, signing up for direct deposit just makes sense.
4. You may spend less overall simply by not making a trip to the bank, where you’ll be tempted to take money out just because you’re there.
5. Notice that you may actually get paid earlier than you used to with a traditional check. Most banks credit your account with a direct deposit as soon as they receive the transfer from your employer’s bank, which is could be 1 to 2 days prior to payday. You may receive more interest on your money.
6. Your money will be deposited even if TCNJ is closed due to weather, summer energy closing, or if you are sick or away on pay day.
Direct Deposit is a simple, safe, and a smart way to help the environment!
By switching to Direct Deposit, an individual employee, paid every two weeks, can:
- Save a pound of paper per year
- Avoid the release of 4 gallons of wastewater into the environment
- Avoid the release of 1 pound of greenhouse gases into the atmosphere
- This amount of greenhouse gases is the equivalent of:
- 4 miles not driven in your car
- ½ square foot of forest preserved
By switching to Direct Deposit, a business that employs 300 people and issues paychecks every two weeks can:
- Save 121 pounds of paper per year
- Avoid the release of 1,159 gallons of wastewater into the environment
- Save 45 gallons of gas
- Avoid the release of 346 pounds of greenhouse gases into the atmosphere.
- This amount of greenhouse gases is the equivalent of:
- 1,231 miles not driven in your car
- 15 trees planted (and grown for 10 years)
- 151 square feet of forest preserved
With many employees and businesses participating in Direct Deposit, these small contributions can add up to a big benefit for the environment.
If the 19% of U.S. employees who have access to Direct Deposit but do not use it* (27,368,740 people) chose Direct Deposit for their paychecks, every year it would:
- Save 11,082,971 pounds of paper
- Avoid the release of 105,709,380 gallons of wastewater into the environment
- Save 4,105,889 gallons of gas
- Avoid the release of 31,581,675 pounds of greenhouse gases into the atmosphere.
- This amount of greenhouse gases is the equivalent of:
- 112,329,703 miles not driven in your car
- 1,345,379 trees planted (and grown for 10 years)
- 13,756,978 square feet of forest preserved
85% of U.S. employees have access to Direct Deposit*. The paper used for paychecks for the remaining 15% of all employees:
- Uses 8,749,714 pounds of paper
- Consumes 104,997 trees
- Releases of 83,454,774 gallons of wastewater into the environment
- Uses 3,241,491 gallons of gas to deliver all of the paychecks
- Releases 24,932,902 pounds of greenhouse gases into the atmosphere.
- This amount of greenhouse gases is the equivalent of:
- 88,681,344 miles driven in your car
- 4,712,318 gallons of gasoline consumed
- 249 acres of forest eliminated