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.
Blank Direct Deposit Form With Name In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
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Form popularity
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Discover the benefits of automated payments with direct deposit at Philadelphia Federal Credit Union in Philadelphia PA. Open a checking account today. DIRECTIONS. To sign up for Direct Deposit, the payee is to read the back of this form and fill in the information requested in Sections 1 and 2.Name on Bank Account: __. (Direct Deposit Accounts must include the name of the DCW). Complete this form and provide it to your employer's payroll department. Name (please print). Signature. Date. Fill out this section start or change your direct deposit. If you are canceling your direct deposit, leave this section blank. The payee must fill in all the requested information in Section 1.
