Please explain Direct Debit Card Deposits/Transfers to me. I’m collecting reimbursements from a company, and besides ACH direct deposit and Zelle, they offer a Direct Debit Card Transfer option, which is new to me. I’d like to understand how it works, the associated risks, whether it’s bidirectional, and how it compares to using Zelle or ACH direct deposit in terms of benefits and drawbacks.
Additionally, does a similar option exist for credit cards?
Previously, these deposits were made into a prepaid bank card, which had its pros and cons. Now that payments are being deposited into a bank account, they could be misclassified as income when they are not.