Direct Deposit a recurring deposit made automatically from other institution, these transactions show-up as ACH (Automatic Clearning House) transactions. The most common type of direct deposit would be from your payroll or pension, but most of the online banks (ING, Paypal, etc.) will allow you to set-up automatic payments that show up like direct deposits. Be careful to read the fine print some banks are specifically saying that Paypal transfers will not be considered a direct Deposit, but most will.
In particular, I was going to open up an account at Sovereign, but they wanted, as far as I could tell, to pull a hard credit check. I could be wrong and if so would some please correct me.
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