Aug 21, 2018

Question of the Day: 82% of employees receive their paycheck via: a) Cash b) Direct Deposit c) Check

Answer: Direct Deposit


  • In your own words, what do you think direct deposit is?
  • What do you think might be a few advantages to receiving your paycheck this way?
  • In order to receive a paycheck via direct deposit, what does an employee need to have? 
  • Many employees use direct deposit to split their paycheck between their checking and savings accounts. What do you think is a good percentage to put into your savings account? 

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (NACHA research):

A full 82 percent of U.S. workers ─ crossing age, income and other demographic categories ─ are paid by Direct Deposit via ACH, up from 74 percent in 2011. Awareness is also strong, with 79 percent of consumers who do not use Direct Deposit via ACH reporting familiarity with the service, according to the results of a new survey conducted by Javelin Strategy & Research on behalf of NACHA—The Electronic Payments Association® and America Saves, a campaign managed by the Consumer Federation of America.


Let your students experience how to manage an online bank account with this NGPF Online Bank Simulation (updated this summer!)



About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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