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 For Employees In King
Category:
State:
Multi-State
County:
King
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
Form popularity
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Directions: This is a sample form for illustration purposes only. 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.A direct deposit authorization form authorizes a third party, usually an employer for payroll, to send money to a bank account. Employee Direct Deposit Banking Authorization Form. In order to process a Payroll Direct Deposit request the employee must do the following: 1. Provide First and Last Name. 2. The form is where the employee gives you permission for direct deposit and provides the bank information that you'll need to send them money. This authorizes the financial institution holding the Account to post all such entries. Note: Enter your company name in the blank space above. To enroll in, change elections, or stop direct deposit complete the Direct Deposit Authorization Form​​.
