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 Deposit Type In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
Form popularity
More info
Agreement for Payroll Direct Deposits, Form FI 21, available electronically from finance.utah.gov. 1. Complete Form FI 21: • Sign and date the form.1. Mark 'New' for the type of direct deposit account you want to establish: Main Checking, Main Savings, Other Checking, or Other Savings. 2. For deposits into a checking account, YOU MUST ATTACH a "VOID" check. For deposits into a savings account, YOU MUST. Direct Deposit (or ACH), similar to the direct deposit for Payroll. Bank name: The name of the employee's bank or credit union where they want their paychecks to be sent. Choose the Direct Deposit link on the left hand side of the main page. Complete this form and submit it to your employer to start using Direct Deposit, or change an existing Direct Deposit arrangement.
