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.
Direct Deposit Authorization Form From Your Bank In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
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This authorization form is critical for organizations to utilize the efficiency of direct deposit, as well as to stay legally compliant in their payroll. 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.Complete and return the direct deposit form on the back of this page for a chance to win! Section I. To fill out this form, please provide your name, ID number, local mailing address, and your email. Use an online portal or request a direct deposit form from your employer or a financial institution. (CIRI) that I am an owner of this account. Complete BOTH sections below and return this form, ONLY if you wish to enroll in Direct Deposit. 2. Your name must appear on your bank or credit union account.
