Direct Deposit allows you to get paid directly into Donut and start earning right away. By splitting paychecks at the source, you save time, more money, and reduce the amount of idle money in your portfolio. Direct Deposit also removes funds from spending consideration which results in higher portfolio growth.
More than 93% of U.S. workers receive their pay by direct deposit. Now 100% of Donut users can have their paychecks directly deposited into Donut to start earning right away.
To set up Direct Deposit on Donut follow these steps:
Log in to your payroll provider
Set your Direct Deposit amount as a dollar value or percent of paycheck
As a treat, you'll unlock a +30% APY boost when your first Direct Deposit into Donut is made.
Your payroll provider may use micro-deposits to verify your Donut account. Micro-deposits are usually two deposits less than $1. These will appear in your activity feed as a Direct Deposit in 1 - 2 days. Enter the amounts in your payroll provider to complete your connection to Donut and the set up of Direct Deposit.
*To find your payroll provider, ask your company HR or operations team!