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 Blank With Multiple Accounts In Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
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You may choose to have deposits in up to 5 separate bank accounts. Please attach a voided check for checking accounts.From a checking or savings account to a U.S. Bank ReliaCard® Visa card, complete a U.S. Bank ReliaCard® enrollment form (PDF). To have funds placed in different bank accounts, you must complete a separate Direct Deposit Agreement for each plan. Instructions for completing this form are on the back. Please print clearly and use black ink. Be sure to sign this form on page 2. By signing the filled-out form, you: 1. Can I Use Direct Deposit for Multiple Accounts? Yes, you can use Direct Deposit for multiple bank accounts if the organization or employer allows it.
