Which of the following is an example of a benefit of using direct deposit?

Using direct deposit offers several benefits, and reduced implementation costs is a significant one. This method streamlines payroll processes for employers, eliminating the need for physical checks, which can be expensive to produce, manage, and distribute. By utilizing direct deposit, companies can save on costs associated with printing checks, postage, and the time spent on handling payroll manually.

Additionally, direct deposit enhances efficiency as funds are transferred electronically, allowing for quicker access to money for employees. It also reduces the risk of checks being lost or delayed in the mail, further benefiting both the employer and the employee by ensuring timely payments without additional administration costs.

Other options, while relevant to financial considerations, do not directly correlate with the specific advantages of direct deposit. Expanded investment options, higher interest rates on savings, and more frequent pay schedules focus on different aspects of personal finance or employment practices rather than the direct cost-saving implications of implementing direct deposit systems.