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 Montgomery
Category:
State:
Multi-State
County:
Montgomery
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
Form popularity
More info
Company Name: Company ID Number: Your School Name. Effective immediately, employees may update their direct deposit banking information electronically via the MyMC employee portal.Direct deposit is mandatory for all employees hired after February 1, 2001. Select Direct Deposit Authorization from the menu. On the Direct Deposit page, enter your bank account information in the required fields. 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.
