We explain what direct deposit is, why it's a good thing, and how to get it going.
Direct deposit is a way to have money from your paycheck automatically transferred to a bank account. Simply put, it means your pay will be available right away, on time, and without you making a trip to the bank or an ATM.
Don’t Have a Bank Account?
You can still use direct deposit by having some or all of your pay directly transferred to a Money Network® Paycard, which can be used like a debit card wherever MasterCard is accepted. If you go this route, you can also use your paycard at any Walmart cash register to take out some or all of the money that’s on it—and there are no fees to worry about.
Another bonus of the Money Network® Paycard: Its startup packet includes a few free checks, and associates can order more if needed. These checks can be used in the same manner as checks tied to bank accounts (to pay bills, for example).
How to Sign Up for Direct Deposit
It’s easy to enroll online on OneWALMART. Go to Me - My Money > Direct Deposit
You can decide how much of your paycheck will go in one or more accounts—up to two checking accounts (or a Money Network® Paycard, which would count as a checking account) and two savings accounts. For example, for each paycheck, you could have $10 deposited in a savings account, $50 deposited in a separate checking account, and the remainder deposited to a Money Network® Paycard.
Once you’ve signed up and selected the amount(s) you’d like to go in your account or accounts, the money will automatically transfer to those accounts each payday.
What If You Need to Print a Pay Statement?
No worries there. If you use direct deposit but want to view or print your pay statement, you can still do so via the My Money section of Walmart OneWire .