I’m amazed to still occasionally hear people say they don’t use direct deposit for their paychecks because they’re afraid of some snafu that would prevent them from immediately getting to their money. I’ve been getting my paychecks deposited directly since 1979 (with some breaks) and I have never, ever had a problem. Not once. In fact, I usually have had access to my money earlier (and never later) than if I were getting paper checks.
If I were to opt out of direct deposit at my current employer, I would be getting my checks through the mail a day later than the money goes into my account now (assuming the mail was on time). And I tell you what, I trust the direct deposit system a lot more than the Postal Service. Add to that occasions when you just can’t get to the bank (sick, vacation) and I just don’t understand the fear. Are there a sufficient number of direct deposit horror stories out there to justify this phobia?