Featured Blog Post
March 20, 2023
Become the first and final destination of your customer’s direct deposit, regardless of income type or source.
33%
of customers are loyal to the bank where they receive their direct deposit. 53% of millennials and 64% of baby boomers say their primary financial provider is the institution where they receive their direct deposit.
According to our research, customers who direct deposit into an account have a
32x
greater LTV than customers who do not.
Automating the deposit switch process improves the customer experience.
~40%
of consumers say automated direct deposit switching is the most valuable feature when opening an account. 93% of U.S. workers are paid by direct deposit.
Take a tour of Pinwheel's API and learn how to level-up your direct deposits.
Pinwheel Deposit Switch serves your customers an appropriate, optimized deposit switching flow based on their unique context and income source.
We've compiled our learnings from helping companies capture more direct deposits in less time. Beat the competition and download Pinwheel's ultimate guide to automated direct deposit switching.
Leading banks and fintechs are using Pinwheel to boost direct deposit growth.
direct deposit penetration growth for a top 5 neobank, one month after implementing Pinwheel’s API.
potential increase in direct deposits.
average end to end conversion rate.
With the help of Pinwheel, a top wealth management fintech replaced manual direct deposit switching with an automated process for millions of users.
The only API provider that supports deposit switching for all types of income to dramatically increase conversion.
Offer a convenient, digital deposit switching experience across channels with the only provider that enables in-branch switches.
Paired with Pinwheel Earnings Stream, you can incentivize customers to become eligible for earned wage access by switching their direct deposit to you.
Customers have the option to generate a pre-filled form to complete a switch directly with their employer.
March 20, 2023