Office of Financial Empowerment
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NYC Direct Deposit - Employers


The NYC Direct Deposit program provides free checking accounts to workers who directly deposit their pay. Accounts are available at Carver Federal Savings Bank, Flushing Bank, Habib American Bank, Neighborhood Trust Federal Credit Union, Popular Community Bank, and Sterling National Bank.


             NO monthly fees
             NO overdraft option for debit card purchases or ATM withdrawals
             NO minimum balance requirements
             FREE online banking and bill pay

FREE in-network ATM withdrawals

             Cost savings from reduced paper check printing
             Less time spent by your human resources and payroll staff to deal with paper paycheck-related issues
            Check cashing fee savings by your employees
            Free on-site account opening
            Free financial education workshops provided by financial institution experts
            Consultations on direct deposit implementation strategies
            Offer direct deposit as an option for employees, and pledge to target employees who are not currently on direct deposit with direct deposit and free checking account opportunities
            Promote account opening by sharing NYC Direct Deposit marketing materials with employees and by inviting financial institutions on-site
            Promote free financial counseling at New York City’s Financial Empowerment Centers and/or offer employees opportunities to receive financial education on-site
            Evaluate existing paycheck distribution practices to determine if there are any areas to further promote direct deposit

The Employer Toolkit includes the NYC Direct Deposit Employer Manual: Your easy-to-use guide to implementing NYC Direct Deposit. See the sample flyer, poster, Fact Sheet, and email and newsletter templates. Learn about program resources such as free financial counseling.
Register to download the employer toolkit