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 Michigan
Category:
State:
Multi-State
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
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PART 2-6: ACCOUNT INFORMATION. Employees can use a payroll direct deposit through their HR Self-Service Account to buy savings bonds. 1.In order to process a Payroll Direct Deposit request the employee must do the following: 1. Provide First and Last Name. 2. This form must be submitted to Human Resources, allow up to 10 business days for processing. After completing the hardcopy Direct Deposit Authorization Form, you must fax or mail it to the University Payroll Office. Questions. After this form is processed, you will receive a Payroll Direct Deposit Confirmation. Check the appropriate box below and fill in the required information. Check one box and complete the entire form. New. Change. Cancel. Check the appropriate box below and fill in the required information.
