Nacha commissioned a study earlier this year to determine how younger consumers are securing their income that’s key to lining up auto financing and maintaining monthly payments.

The organization that governs the ACH Network learned that the sizable majority of the nation’s younger millennials are paid by direct deposit. But Nacha’s study also revealed a stark contrast between W2 employees and gig workers.

According to a news release about the study, overall, 97% of workers ages 22-34 have a bank or credit union account, with 83% receiving their pay by direct deposit. However, among W2 employees, 88% use direct deposit, while only 47% of gig workers are paid this way.

Of the respondents who receive direct deposit payments, Nacha said more than three-quarters cite key attributes of reliability, trustworthiness, ability to be paid on time, security and ease of use.

“Among younger W2 workers, direct deposit is widely understood, used and appreciated,” Nacha president and CEO Jane Larimer said. “There is an opportunity to educate younger gig workers on the value of Direct Deposit as a fast, convenient, reliable and environmentally-friendly way to receive their pay.”

“The study also found that ACH usage increases as workers progress in life when they are more likely to purchase a home or car, pay bills and save for retirement,” Larimer continued. “When factoring the entire millennial population, including those 35-40, ACH usage would be even greater than what was reported.”

Nacha pointed out that millennial workers can also use direct deposit for receiving other payments, including tax refunds and government benefits, app-based payments, travel and expense reimbursements, and bonuses and commissions. They can also benefit by using ACH for expenses (known as direct payments), including loans, rent and mortgage, utilities, credit cards and insurance premiums.

Other key findings from the research on American workers ages 22-34 included:

—71% keep their money primarily in a bank account as almost all have deposit accounts, and the vast majority have savings accounts.

—Seven in 10 use direct payment for bill payments at least once a month.

—56% of gig workers still primarily store their money in bank accounts, but the remainder store it in other non-bank payment app alternatives.

—The top use cases for direct deposit are salary/wages (82%) and taxes/other refunds (53%).

—Among those with direct deposit, the top three use cases for paying bills with Direct Payment are utilities (53%), rent/mortgage (48%) and credit cards (44%).

The nationwide survey by Quadrant Strategies was conducted from April 14 to May 1 on behalf of the Nacha. The survey was conducted online among 700 American adults, ages 22-34, who are either W2 employees and/or gig economy workers.

Based on the research, Nacha has launched a campaign to educate younger millennial gig workers on the value of direct deposit. The campaign page can be found at