Don’t throw your money away on fees. Be savvy and take advantage of the free features that your MoCaFi Bank Account offers, like direct deposit.

What is direct deposit?

Direct deposit is the transfer of funds from a payer’s account to that of the recipient.


Direct deposit is a convenient option, it saves time and money. It eliminates the need for predatory financial services such as check cashers, and provides convenience in managing your money.


What is the true cost of using checking cashing services?

An estimated 4.5 percent of U.S. households (approximately 5.9 million) were “unbanked” in 2021, meaning that no one in the household had a checking or savings account at a bank or credit union. 


In 2021, 3.2 percent of all households used nonbank check cashing services. Using alternative financial services comes at a high price to individuals, costing them money and time. Enrolling in direct deposit can eliminate these fees all together. In fact, a no free account like your MoCaFi Bank Account can save you money not only on check cashing fees but also on fees incurred when paying bills and sending money to friends and family.


Why should I enroll in direct deposit?

With your MoCaFi Bank Account you could get paid up to two days before your scheduled payday with early direct deposit. Signing up for direct deposit is simple. You just need to give your account information (Institution name, bank routing number, and bank account number) to your employer or benefits provider.


Where can I find my Direct Deposit information?

  1. Open your MoCaFi App.
  2. Head to the Profile tab.
  3. Select Account Information from the list.
  4. Select Your Account.
  5. Make note of your account and routing numbers for setting up your direct deposit.