Forced Direct Deposit = Slavery.

[werdd]

My corporate provider for our hospital has now forced us to do direct deposit. I have always cashed my check.

Now especially with the new bailout bill, banks are not required to give you any cash. They can hold 0 reserves and just tell you to come back at another time.

Is the push for everyone to use direct deposit in accordance with this??

They are essentially saying that, our money isnt even worth backing with paper anymore. It is worthless, and is soon going to be completely digital, and completely based upon credit.

[virgil47]

Direct deposit is a swinging door. If you give permission to put money into your account you also give permission to take money out of your account for any reason they may deem necessary. A court order is not required as it would be if you cashed a check then deposited the money in your account. If you are a current employee of a business that decides to go direct deposit you are not required to agree to direct deposit and can not be fired for not going direct deposit as you can not be forced to give anyone access to your bank account. However if you wish to be hired by a company that requires direct deposit as a condition of employment you must choose between not giving access and not being employed. Sad but true.

[roshie]

I don't think they're trying to tell you that paper money is worthless anymore. Usually people switch to direct deposit because it's quick, won't bounce, and costs less (usually free) because they save the money from buying and printing pay checks

[Malakai]

It's a double edged sword, DD that is.
I used it for 2 years as a manager at CVS. Indeed it is convenient. But when I left the company the upper management acted very strangely and I wished they didn't have all my account information.

A friend of mine had a problem with some overdraft fees, and of course they immediately deduct them from the DD. Caused him to bounce a bunch of bills in transit and the fees and bounced checks went crazy.

I had a similar problem years ago, but I had a physical check to yank back.

I closed my account a while ago though. No need of a bank account right now, money orders are cheap/free =)

[Matt Collins]

The company that I part-time for went paperless recently. So if you don't do DD, you can get yourself a pre-paid debit card that they simply dump the money into.

Hmmm... I think it's just another step forward to a cashless society which is dangerous. I don't use cash, but there might be a time when I want to so it should be available.