BOSTON, Feb. 14, 2025 — Berkshire Bank has unveiled a new service to help clients reroute their direct deposits to their bank accounts through Berkshire Bank’s online and mobile banking platform.
Berkshire introduced the new service in collaboration with its digital banking provider Narmi and the New York-based firm Pinwheel. The service helps simplify what can be an inefficient and time-consuming process. With the introduction of Pinwheel, clients can switch their direct deposit in a few simple clicks within Berkshire Bank’s online or mobile banking platform, making it easier and quicker for clients to update their direct deposit settings and fund their accounts.
Clients accessing the bank's online and mobile platform can search for their payroll provider through an integration with Pinwheel, which uses permission-based technology to validate a client’s identity between multiple databases. After it completes a multifactor authentication, clients can choose one or more accounts to receive their direct deposit.
The new service covers most major U.S. payroll scenarios, including the Social Security Administration, and delivers a higher success rate, making it possible for millions of workers to move their direct deposit within seconds, regardless of how they receive their income.
Sumant Pustake, executive vice president, chief strategy and marketing officer at Berkshire Bank, said: “We’re making it easier for clients to select and fund any Berkshire Bank account with the introduction of Pinwheel. This service will help bolster our account opening process, boost account activations and accelerate deposit conversions, all while deepening relationships and enhancing client satisfaction.”
“We are thrilled to partner with Berkshire Bank, a customer-first organization dedicated to delivering better financial futures to its communities," said Kurtis Lin, CEO and co-founder of Pinwheel. "Berkshire selected Pinwheel to offer its customers the best-in-class deposit-switch experience, improving transparency and control over their customers' most important funding sources. Berkshire's continued commitment to delivering a leading-edge digital experience will undoubtedly result in more valuable and lasting lifetime customer relationships."
The direct deposit services complement other recent enhancements to Berkshire’s digital offerings, including Berkshire One, an innovative suite of digital-first banking solutions designed to help clients reach their financial goals and make banking easier than ever before. With the addition of Pinwheel’s direct deposit services, new clients can now easily fund their Berkshire One accounts.
All these offerings build on the bank’s longstanding commitment to providing clients with personalized service, industry-leading expertise, direct access to local decision makers and tailored solutions whether online or through any of Berkshire Bank’s conveniently located financial centers.
About Berkshire Bank
Berkshire Bank is a relationship-driven, community-focused bank that delivers industry-leading financial expertise to clients in New England and New York and is a subsidiary of Berkshire Hills Bancorp, Inc. (NYSE: BHLB), headquartered in Boston. With $12.3 billion in assets and 83 financial centers, the Bank provides a full suite of tailored banking solutions through its Commercial Banking, Retail Banking, Consumer Lending, Private Banking and Wealth Management divisions. For more than 175 years, Berkshire has delivered strength, stability and trusted advice to empower the financial potential of its clients and communities. Newsweek named Berkshire one of the Most Trustworthy Companies in America and one of America’s Best Regional Banks. To learn more, visit BerkshireBank.com and follow Berkshire on Facebook, Instagram, and LinkedIn.
About Pinwheel
Pinwheel helps banks, CUs and fintechs win primacy with embedded 1-click deposit switching and bill management tools. Through an exclusive data network of payroll providers, Pinwheel enables access to income and employment data across 1,800 platforms (covering up to 100% of US workers paid via direct deposit) and over 1.5 million employers. With this connectivity, Pinwheel supports leading fintechs and financial institutions (such as Acorns, Cash App, American Express, Credit Karma, and more) power instant direct deposit switching, earned wage access, income & employment verification, and bill management products. Pinwheel has raised $77M from top-tier investors such as Notable, Coatue, First Round Capital, Upfront and more.
Media Contact:
Alison Skratt, Corporate Communications
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