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New Wire Fraud Scam Reroutes Direct Deposit Paychecks

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A new type of phishing scam targets the HR departments of companies and asks for reroutes on direct deposit accounts, CNBC reported. Once the changes are made, a paycheck will go directly into a criminal’s account. KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with the scam.

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Walmart To Customers: Get Stimulus Check Deposited In MoneyCard Account

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Walmart is hoping customers will sign up for its Walmart MoneyCard to create a direct deposit account to access the government stimulus payments being sent out this week, touting waived fees and quick access, according to an emailed press release. The retail giant said the process would be safe, easy and affordable.

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7-Eleven Offers Prepaid Cards For Faster Access To Stimulus Funds

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.” The prepaid card, which offers cardholders an alternative to brick-and-mortar banks, can accept direct deposit payments, including paychecks and government benefits. They will then receive account information that can be used to update to their direct deposit information once enrollment is completed.

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Walmart, Green Dot Announce Enhanced MoneyCard Features

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With features such as free cash deposits and a high-yield savings account, Walmart and Green Dot unveiled updated benefits for the Walmart MoneyCard Reloadable Debit Card program. And, with ASAP Direct Deposit, consumers can get their pay as soon as two days prior to payday or government benefits as soon as four days early.

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Square’s Stock Rally Looks Pretty Well-Rounded

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direct deposit accounts. As relayed by Zacks.com , Jeffrey said the “pandemic stimulus highlights Cash App ’s unique functionality,” and that Square’s app might replace traditional checking accounts. Separately, direct deposit (stored) volumes through Cash App were $1.3 billion in the latest quarter.

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Getting Stimulus Funds To Those Who Need Them — Without The Paper Check

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As reported, those Americans with direct deposit account information stored with the Internal Revenue Service (IRS) — the conduit through which they get refunds — will get those payments within a few weeks after legislation is finalized and signed. Prepaid cards also can allow those without bank accounts (i.e.

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What is an ACH Deposit and How Does It Work?

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TL;DR Nearly 93% of Americans receive payments through direct deposit; Automated Clearing House makes it simpler for employers to manage funds without handing out physical checks or dealing with pesky extra fees. Many small businesses choose ACH operators because they are more convenient than most direct deposits.

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