Direct deposit is a process where someone who is going to be paid on a recurring basis, such as an employee, or a recipient of a government entitlement or benefit program such as social security, is sent the payment owed to them into their checking or savings account. The reasons for doing this include:
- Instant access to the funds via an ATM or check card;
- A check can be lost or stolen anywhere between the sender and the intended payee;
- Payments made electronically can be less expensive to the payor.
Direct deposit eliminates mailing delays and alleviates the need to go somewhere to cash or deposit your check.
Blank Direct Deposit Form With Check In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
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Download a blank direct deposit template using the button above. If you would like to begin Direct Deposit or modify how your funds are distributed, you must complete Form AC 2772 with your banking information.You CAN call the bank and ask for help. Indicate whether the account is checking or savings. They need your banks information-your account number and the banks routing number so that your paycheck will automatically be put into your account. The form collects account details for up to two accounts, including type of account, routing number, account number, and deposit allocation percentage for each.
