Job Direct Deposit...

Question

For jobs, does direct deposit let your boss know how much

money you have in your account? Or does it just let them see

how much they put into your account?

Answer 1

Your boss doesn't see anything, payroll makes an electronic transaction, they see nothing in your account.

Answer 2

Neither, it just gives them permission to deposit your earnings into your bank account.

Answer 3

Can't they see how much they pay you when they deposit it? It is a good way of getting your paycheck taken care of. If you are out of town and you get paid on a day you are away, if your money is direct deposited then you will be able to use it then rather than wondering if someone is trying to steal it!

Answer 4

Neither, the only way they can check how much is put into your account is by checking how much was transferred from their own account. Your bank shouldn't allow anyone access to your information.

Answer 5

Why would your boss care?  He probably has better things on his mind.  He already knows your salary or yearly wages.  It is none of his business anyway. The question would only come up if you are driving a Porsche to your $20,000 yr. job.  And if you have that much money, hopefully you would have it in a better investment than a bank account!  

Answer 6

it is an EFT transaction-electronic funds transfer. the company that prepares your payroll makes a transfer to your account.  

Answer 7

neither it just allows payroll to be deposited into your account

Answer 8

the only thing your boss can do is estimate how much is in your account by how much you were paid, but this doesn't include expenses or other sources of income either, so it would be a guess.