Qualifying Direct Deposit – A pre-arranged electronic direct deposit through the Automated Clearing House (“ACH”) Network from most employer payrolls,...
Qualifying Direct Deposit – A pre-arranged electronic direct deposit through the Automated Clearing House (“ACH”) Network from most employer payrolls, payroll provider (excluding third-party advance payroll service providers), benefits payer such as Social Security or Military Pay, or pension.
Non-Qualifying Deposits – Including but not limited to: Point-of-sale (POS) and internet-initiated mobile entry (WEB) ACH transactions; incoming Person-to-Person (P2P) payments made via the ACH Network such as Zelle, PayPal, Cash App, or Venmo (including payroll-related transactions made via P2P providers); mobile check deposits; wire transfers; cash deposits; one-time direct deposits such as tax refunds and corporate reimbursements; internal transfers between Laurel Road or KeyBank accounts; external transfers from another financial institution; and insurance payments and other similar transactions.
Laurel Road, in its sole discretion, reserves the right to deem any deposit either a qualifying or non-qualifying direct deposit, as applicable.
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