Accredited ACH Professional (AAP) Practice Exam

What is one of the main benefits of Direct Deposit for receivers?

1. No lost/stolen checks

2. Higher interest rates

3. Monthly statements

4. Access to loans

The correct answer is: No lost/stolen checks

One of the primary advantages of Direct Deposit for receivers is the elimination of the risk associated with lost or stolen checks. When individuals receive their payments directly deposited into their bank accounts, they no longer need to physically handle checks, which can be misplaced or stolen before they are cashed. This method ensures that funds are available to the receiver promptly and securely, protecting them from potential fraud and delays associated with traditional check processing. While higher interest rates, monthly statements, and access to loans can offer benefits in different financial contexts, they do not specifically relate to the unique security and convenience that Direct Deposit provides. Thus, the assurance of receiving payments securely and reliably without the worry of checks being lost or stolen stands out as a significant benefit for recipients.