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 With Voided Check In Montgomery
Category:
State:
Multi-State
County:
Montgomery
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
Form popularity
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Complete Section 2 if a voided check is not attached or the direct deposit is to be credited to a "Savings Account. Attach voided check OR complete routing and account information: Processed by: Effective Date: OPTIONAL FLAT AMOUNT DEPOSIT (to 2nd Account).If you have to do this, write "VOID" across the front of a blank check, which ensures the check's unusable if it's lost or stolen. Looking to set-up direct deposit with a voided check? Learn multiple ways to void a check, and what to avoid. A voided check is a regular check that has the word "VOID" written across it. It means the check can't be used to withdraw money from your account. Complete the direct deposit form. If your company requires a voided check for direct deposit payroll, simply write VOID in big block letters across the face of the check. Voided checks cannot be cashed in, but they can be useful in authorizing direct deposits and automated payments.
