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IRS Says Much Of Next Stimulus Payout Will Be Faster Direct Deposits

PYMNTS

Roughly 60 percent of the disbursements are expected to be paid out via direct deposit this time. About 80 million of the 160 million payouts were direct deposited in the first round. Since then, 14 million people have signed up for direct deposits on the IRS website for a total of 94 million.

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Nacha Launches New Campaign Highlighting the Many People Benefiting from Direct Deposit

NACHA

Nacha Launches New Campaign Highlighting the Many People Benefiting from Direct Deposit droth@nacha.org Wed, 02/28/2024 - 06:01 Image Media CMS-937_Direct-Deposit-Media-Release-Image_Collage_with-Logo (1).jpg

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New Wire Fraud Scam Reroutes Direct Deposit Paychecks

PYMNTS

A new type of phishing scam targets the HR departments of companies and asks for reroutes on direct deposit accounts, CNBC reported. They might just say, ‘I need to update my direct deposit information,’” Erik Nyberg, director of information technology at KVC, told CNBC. “Or Or they start with, ‘Hey, do you have a second?’

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Varo Bank Introduces Zero Fee Cash Deposits at Participating CVS Locations

Fintech Finance

For customers who deposit cash regularly, this means saving $120 or more per year. Traditional banks often charge fees unless customers maintain specified minimum balances in their accounts or meet monthly direct deposit requirements.

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SC Ventures Launches Labamu to Aid APAC SMEs with Billing, Financial Tools

Fintech News

Merchants using Labamu can get invoice and bill payments directly deposited to their bank accounts, said Emmanuel Van De Geer, CEO of Labamu. Emmanuel Van De Geer Labamu believes that every small business contributes to shared economic prosperity and we want to empower them. Alex Manson SMEs are still suffering from lack of access.

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Wednesday Deadline Looms For Direct Deposit Of IRS Stimulus Checks

PYMNTS

The Internal Revenue Service (IRS) says it’s making progress distributing stimulus checks, and there’s still time for recipients to get their checks direct deposited. It’s the last chance to obtain a direct deposit of their economic impact payment instead of a paper check.

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MANTL selects Pinwheel for direct deposit switching

Finextra

Pinwheel, a fintech that helps financial institutions win primacy with frictionless activation, has been chosen by MANTL, a leading account origination provider, to be the preferred provider for Direct Deposit Switching.