The payroll savings calculator assumes:
- The client uses one account specifically for payroll.
- The client is currently enrolled in Chase Commercial OnlineSM. If the current percentage on Direct Deposit is 0%, the calculator assumes the client is currently enrolled in the Standard service plan; otherwise, the calculator assumes the client is enrolled in the Premium service plan and uses Basic Payroll.
- The account has "Post No Check" status and is not enrolled in Positive Pay, if the target percentage to Direct Deposit is 100%.
- Savings are based on direct and indirect payroll costs.
See a more detailed explanation of the assumptions below.Footnote (Opens Overlay)
"Company data" includes payroll data used in the calculation (e.g., the number of payrolls, average hourly wages, how paychecks are distributed, etc.).
"Bank costs" are typical Chase Commercial Banking fees for Chase Commercial Online clients as of March 2010. These fees include account maintenance, Chase Commercial Online service plan, Basic Payroll transaction, Positive Pay account maintenance and check exceptions, "Post No Check" maintenance, checks/debits posted, check cashing and stop payment. For more information about these fees, please call your Commercial Banker. Your fees may vary from those used by the calculator.