Electronic Pay Preferred Method of Payment for Most Americans

SAN ANTONIO, Sept. 18, 2014 /PRNewswire/ -- The majority of employees are paid electronically rather than by traditional paychecks or cash, according to results from the 2014 "Getting Paid In America" survey conducted by the American Payroll Association. Electronic payments such as direct deposit provide a secure and dependable method for receiving paychecks.

"The survey results demonstrate that employees continue to view direct deposit via the Automated Clearing House (ACH) as a safe, convenient and efficient way to receive their pay," said Janet O. Estep, president and CEO of NACHA – The Electronic Payments Association. "Direct deposit is easy to set up, easy to use, and allows employees to get paid quickly, directly, and seamlessly."

The annual "Getting Paid In America" survey asked respondents "How do you receive your pay?" Approximately 96 percent of respondents indicated they were paid via direct deposit. The remaining respondents indicated that they receive their wages via paper paychecks and other electronic payments such as payroll cards.

"Many employees choose to be paid by a payroll card because it provides immediate, secure, low-cost access to their pay, along with the many benefits of electronic payments," said Cecilia Frew, head of US prepaid, Visa, Inc. "Employees can use their payroll card anywhere a debit card is accepted to shop online or in-store, get cash and pay bills."

Of the respondents who indicated they were paid by payroll cards, just over 75 percent said their employer or the card provider explained the fees associated with their cards.

The "Getting Paid In America" survey was held in conjunction with APA's annual public awareness campaign, National Payroll Week (NPW). Over 27,000 employees responded to the survey, providing insight into how workers are paid in America. For complete results, visit www.nationalpayrollweek.com.

The APA is the nation's leader in payroll education, publications, and training. Visit APA online at www.americanpayroll.org.

SOURCE American Payroll Association

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