NYC Direct Deposit for Employers

NYC Direct Deposit for Employers

The NYC Direct Deposit program provides free checking accounts to employees who directly deposit their pay.

Participating financial institutions currently include Amalgamated Bank, Carver Federal Savings Bank, Flushing Bank, Habib American Bank, Neighborhood Trust Federal Credit Union, PNC Bank, Sterling National Bank, and The Finest Federal Credit Union.

Participating employers currently include the City of New York, CAMBA, Food Bank for New York City, The Fortune Society, Henry Street Settlement, and Verizon.

Account Features

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

Benefits for Your Company

  • Cost savings from reduced printing of paper checks
  • Less time spent by human resources and payroll staff to deal with paper paycheck-related issues (e.g., reissuing a lost check)
  • Check cashing fees savings by your employees
  • Free on-site account opening
  • Free financial education workshops provided by experts
  • Consultation on direct deposit implementation strategies

Employer Toolkit

Interested in enrolling your company in the NYC Direct Deposit program? Email and we'll send you an employer toolkit and additional information on program resources such as free financial counseling.