By Bridget Fallon You work very hard for your money, so you want to find a way to make your pay work for you. When it comes to getting your checks from an employer, you typically have the option to either cash the check or direct deposit it into your bank account. For some, cashing checks is the way...

By Bridget Fallon

You work very hard for your money, so you want to find a way to make your pay work for you.

When it comes to getting your checks from an employer, you typically have the option to either cash the check or direct deposit it into your bank account.

For some, cashing checks is the way they go. It is the way that most people trust and maybe the way that their parents or grandparents always handled how they got paid at work. With cashing checks, you have complete control as to where the money goes, and for many, that is empowering. Paper checks also allow you to keep your bank account information private from the employer. If you are someone who financially thrives on a ‘cash diet’ (only using cash to pay your bills) cashing checks might be the only way they consider to be paid.

People may be wary of cashing checks in this day in age. With busy work schedules, cashing a check usually involves one more trip to the bank and is not the most timely of options. If your payday falls on a on holiday or weekend, you may have to wait until the next business day to cash your check, which is why a lot of people prefer direct deposit.

Even though you have to give your employer you bank account information, the pros of having your check direct deposited into your account tend to outweigh this one con. With Direct Deposit, money is electronically transferred into your choice of your checking or savings account and any combination of the two. Direct Deposit is also a timely way to get paid as it is faster for you to receive than a paper check and typically gets deposited the morning of pay day. Overall, direct deposit is pretty safe, because you do not have to worry about the checks getting lost, damaged or stolen. The GTE Financial website says the Social Security Administration has never lost a payment by direct deposit since 1976, when it first started using the system.

It all comes down to personal preference, but both options have their pros and cons!