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 Form Document Format
Category:
State:
Multi-State
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
How to fill out Direct Deposit Agreement?
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FAQ
A direct deposit authorization form is a form that employees fill out to authorize their employer to deposit money straight into their bank account. Direct deposit is the standard method most businesses use for paying employees.
A direct deposit authorization form is a form that employees fill out to authorize their employer to deposit money straight into their bank account.
Direct Deposit Authorization Form Company Information. Employee Information. Bank Account Information. ?I hereby authorize?? Statement. Employee Signature and Date. Space for Attached Physical Check (Optional)
To whom it may concern: I am writing to request direct deposit of my paycheck into my account at Commerce Bank. Enclosed is a completed Direct Deposit Authorization form, which includes the required bank account information as well as my contact information. A voided check is also enclosed.
These are forms designed by banks and credit unions to provide the payee's name, address, and account details. Direct deposit authorization forms are available online, usually through your payee's online account access, or from a local bank branch.
