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 Illinois
Category:
State:
Multi-State
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
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For security purposes, to sign up for Direct Deposit, call: . 7) Enter the following information.The bank name should automatically populate. Please fax the completed form with the above referenced information to or mail to the Illinois State Disbursement. Unit at the above address. Springfield, IL 62794-9401. (EPU) Enters the bank routing and account number and type of account in the Add Direct Deposit Information screen in IES. A direct deposit authorization form gives you, as the employer, permission to transfer funds, ie, payroll, directly into your employee's bank account. Signing up for Direct Deposit is easy. Please place your initials in the designated box as indicated.
