Direct deposit is a method of electronically transferring funds from one bank account to another. It is often used by employers to pay their employees’ salaries, as well as by government agencies to issue tax refunds and other payments.
For freelancers, direct deposit can be a convenient and efficient way to receive payment for their services. Instead of waiting for a check to arrive in the mail and then having to physically deposit it at a bank, direct deposit allows freelancers to receive their payment directly into their business bank account. This can save time and reduce the risk of lost or stolen checks.
In addition, many clients prefer to use direct deposit because it is a secure and reliable method of payment. It also allows clients to easily track their payments and can simplify their accounting and bookkeeping processes.