Dallas, TX, May 06, 2011 --(PR.com
)-- Dallas-based SWACHA, one of the largest not-for-profit regional payments associations in the country, is hitting the road in May to promote National Direct Deposit and Direct Payment month with its “Wheels on SWACHA” mobile billboard.
The traveling billboard will encourage consumers to take advantage of their employer’s direct deposit plans and pay bills electronically through direct payment. Direct deposit and direct payments save time and money, reduce clutter, and make a positive impact on the environment. In fact, every year, the processing of paper checks uses more than 600 million gallons of fuel and adds over 3 million tons of CO2 to the environment, according to the PayitGreen Alliance.
“Wheels on SWACHA is a great tool to help us promote Direct Deposit and Direct Payment Month,” said Dennis Simmons, AAP, President and CEO of SWACHA. “Electronic payments have rapidly become the most popular way for consumers to handle their finances, because they are simple, secure and environmentally friendly. We want to continue to encourage Americans to use direct deposit and direct payment.”
According to a survey done by SWACHA in 2009, 98 percent of Texans have a clear understanding of direct deposit with 66 percent of those using their employer’s direct deposit option. Additionally, 82 percent of Texans pay some of their bills electronically and 21 percent reported they use direct payment.
Not only have direct deposit trends been steadily increasing in recent years, in some cases using direct deposit is becoming a requirement. In a new government policy enacted May 1, all new applicants for federal benefits such as social security or disability must sign up to receive payments electronically, with paper checks being completely phased out by 2013.
“The financial world is becoming increasingly paperless, so it is vital that we encourage consumers to move in that direction,” Simmons said. “Direct deposit is easily the fastest and safest way to move money, and because direct payments are automatic, consumers never worry about late fees or a decrease in credit score due to non-payment.”
“Get on Board with SWACHA”
SWACHA also recently launched a Facebook campaign to promote Direct Deposit and Direct Payment Month that features “Wheels on SWACHA.” The “Get on Board with SWACHA” campaign encourages anyone who spots the “Wheels on SWACHA” to take a photo and upload it to the “Get on Board with SWACHA” Facebook fan page at www.facebook.com/getonboardwithswacha for a chance to win prizes. The “Get on Board with SWACHA” campaign will run through May 31. More information on the campaign is available at SWACHA.org.
About Direct Deposit: Direct Deposit is the electronic transfer of a payment from a company or organization into the checking or savings account of employees, retirees, taxpayers, vendors or shareholders.
About Direct Payment: Direct Payment is the automatic electronic transfer of an authorized payment from a consumer’s checking or savings account into the account of a business, financing or investment company, or non-profit organization.
SWACHA-The Electronic Payments Resource®, is one of the largest not-for-profit regional payments associations in the country with approximately 1,100 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. For more information, visit www.swacha.org.