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Butsetting up direct deposithas some lesser-known benefits as well.
It can also cut down on any stress you might experience between pay periods.
But direct deposit also allows you to automate and streamline your finances across multiple accounts.
This can include your personal checking, personal savings and joint accounts.
The benefit here is twofold.
This may include nonsufficient funds (NSF) fees or overdraft fees.
Setting up direct deposit could also indirectly waive your accounts monthly maintenance fee.
Some banks will waive this fee automatically if you keep a minimum balance in your account at all times.
This isnt an issue with direct deposit.
As an added bonus, direct deposit can be more secure than physical payment methods.
I am a huge proponent of creating an automatic system that works for you, Cisneros continued.
This can help you build savings and potentially grow your money.
My finances are on autopilot essentially.
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