NACHA Celebrates America Saves Week by Encouraging Employees to Save Automatically with Split Deposit

  America Saves Week is February 25 – March 2

HERNDON, VA (February 27, 2013) – In support of America Saves Week, which is being celebrated February 25 –  March 2, 2013, NACHA- The Electronic Payments Association is encouraging employees to save automatically with split deposit.  Split deposit is a tool that enables employees to divide their pay between multiple accounts using Direct Deposit via ACH.  According to a recent NACHA study, almost 90 percent of employees who use split deposit see it as an employee benefit that helps them save time and money, and 85 percent agree that it is helping them create a more structured approach to saving.

“Split deposit is a simple and convenient way for employees to grow their savings,” said Janet O. Estep, president and CEO of NACHA. “By splitting a fixed amount or percentage of their pay using Direct Deposit via ACH, employees can automatically and regularly put aside money directly into savings and investment accounts for emergencies, planned expenses, or retirement.”

“It can be hard to put aside money for savings, but it doesn’t have to be,” said Nancy Register, national director of America Saves. “According to our annual survey assessing household savings behavior, only 41% save automatically through regular preauthorized transfers from checking to savings or investments outside of work. By setting a goal, making a plan, and saving automatically through split deposit, Americans can save money without ever missing it, and achieve their savings goals.”

Although a great majority of Americans – almost 75 percent – participate in Direct Deposit via ACH, only 21 percent use split deposit, according to NACHA’s recent study.  Of those who do not use split deposit, but have access to direct deposit, 71 percent indicated that they were unaware that split deposit is available upon request of their employer as part of direct deposit.

“Every employer who uses Direct Deposit has the option of offering split deposit,” said Estep.  “During America Saves Week, we encourage employees to ask their payroll departments about splitting their pay with Direct Deposit via ACH.  Additionally, we invite employers to promote and encourage use of this valuable benefit as a way for their employees to increase their savings.”

For more information about splitting pay with Direct Deposit via ACH, please visit

About NACHA’s Split Deposit Study
NACHA’s Split Deposit Study is based on the findings of an online survey conducted within the United States by Harris Interactive on behalf of NACHA. The online survey, administered from December 19-21, 2011, polled 2,292 adults ages 18 and older.   For additional information on the study, please visit

About America Saves Week
America Saves Week is coordinated by America Saves and the America Savings Education Council. Started in 2007, the Week is an annual opportunity for organizations to promote good savings behavior and a chance for individuals to assess their own saving status. Typically, over 2,000 organizations participate in the Week reaching millions of people.

About NACHA — The Electronic Payments Association
NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable NACHA Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, NACHA represents more than 10,000 financial institutions via 17 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network. To learn more, please visit,,, and 

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