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The Atlanta Fed


Direct Deposit and Direct Payment Week May 15–19

For immediate release May 12, 2000

DIRECT DEPOSIT AND DIRECT PAYMENT WEEK MAY 15-19

Governors and mayors throughout the Southeast have proclaimed May 15?19 as Direct Deposit and Direct Payment Week. Direct Deposit and Direct Payment are electronic alternatives to checks. Direct Deposit allows you to receive payments automatically; Direct Payment allows you to pay your bills automatically. The governors of Georgia, Florida, Louisiana, Mississippi and Tennessee as well as the mayors of Jacksonville, Nashville and New Orleans signed proclamations for Direct Deposit and Direct Payment Week.

"By proclaiming Direct Deposit and Direct Payment week, these elected officials are recognizing Direct Deposit and Direct Payment are services which benefit all of us ? consumers, companies and the nation's payments system," said Tony Love, assistant vice president at the Federal Reserve Bank of Atlanta.

According to the National Automated Clearing House Association (NACHA), 55 percent of consumers receive one or more regularly scheduled payments using Direct Deposit. In 1999, nearly 2 billion payments were made by Direct Payment.

The designation of Direct Deposit and Direct Payment week is part of a national public awareness and education campaign being conducted by the Direct Deposit and Direct Payment Coalition, which is composed of the Federal Reserve, NACHA, the Electronic Payments Coalition and regional automated clearinghouse associations.

For additional information on the Direct Deposit and Direct Payment Coalition and the national activities for Direct Deposit and Direct Payment week, visit www.directdeposit.org or www.directpayment.org.

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