Finance & Banking

Direct deposit

dəˈrekt dɪˈpɑːzɪt

noun

What does Direct deposit mean?

Salary paid electronically into your account.

Example sentence

"Set up direct deposit with HR on day one."

American usage tip

Faster than checks; some banks pay you early.

Related Finance & Banking words

ITIN
Tax ID for those not eligible for an SSN.
Diversify
To spread investments across different assets.
Vesting
Earning full ownership of employer contributions over time.
Interest rate
The cost of borrowing or reward for saving.
Credit history
Your record of borrowing and repaying.
Emergency fund
Savings covering 3-6 months of expenses.
Cashback
A percentage of spending returned to you.
Tax return
The annual filing of your income taxes.

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