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American Consumer Credit Counseling Highlights the Benefits of Direct Deposit


ACCC provides six reasons consumers should consider direct deposit for their paychecks  benefits of direct deposit 

(Boston, MA) – April 19, 2018 – Direct deposit not only makes consumers’ lives easier, but it can also help with money management. With direct deposit, the employee’s paycheck is deposited electronically to their bank account each pay period. To help consumers, national nonprofit American Consumer Credit Counseling (ACCC) has provided six reasons they should consider setting up direct deposit.

“There are many benefits associated with direct deposit that extends beyond just going paperless,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “Not only is there no cost associated with direct deposit, but it also creates a convenience that can make it easier to pay bills and help consumers practice better money management skills.”

According to a survey by NACHA, 82 percent of Americans are paid by direct deposit, up from 74 percent in 2011. Of the respondents who do not use direct deposit, 79 percent are aware of its existence. The study also found that the top reasons for using direct deposit include faster access (53 percent), no cost (47 percent), and the fact that it eliminates the risk of losing a paycheck (38 percent).

ACCC provides six benefits to utilizing direct deposit:

  1. Money is available sooner – Consumers’ paychecks are cleared immediately and accessible in their bank account on payday.
  2. Money management – Direct deposit allows consumers to automatically disperse their paycheck into different accounts, such as a savings account or emergency fund. This also eliminates the temptation to take out cash when depositing each paycheck.
  3. No misplaced checks – Consumers can receive their money on time instead of worrying about the check getting lost in the mail or misplacing it before making the trip to the bank.
  4. Convenience – Direct deposit saves consumers a trip to the bank to deposit their paycheck every couple of weeks.
  5. Easier to pay bills – Consumers know precisely when money will appear in their account so they know exactly when they can pay bills or schedule automatic payments.
  6. No cost – Where there can be a cost associated with depositing a physical check, direct deposit has no cost associated with it.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling, and student loan counseling call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180
  • Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. In order to help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft,  senior living and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit

American Consumer Credit Counseling (ACCC) provides non-profit credit counseling, debt relief, and debt elimination services for consumers nationwide. We offer free credit counseling to help consumers identify the right debt reduction program or debt solution for their unique situation. Since 1991, our certified credit counselors have helped thousands of individuals and families learn how to pay off a credit card balance and how to get out of debt fast through programs designed to payoff credit card debt within five years. Our debt management programs consolidate card credit debt payments and help reduce interest rates and finances charges, reducing the time it takes for getting rid of debt. And we offer comprehensive financial education services where consumers can get answers to questions like "How do I create a budget?", "What is debt consolidation?" and "How can I avoid debt in the future?"

American Consumer Credit Counseling - Consolidate Debts - Better Business Bureau American Consumer Credit Counseling - Consolidate Debts - Mass Housing Approved National Industry Standards for Homeownership Education and Counseling American Consumer Credit Counseling - Consolidate Debts  - Council on Accreditation American Consumer Credit Counseling - Consolidate Debts  - NFCC Member