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 Blank With Multiple Accounts In Texas
Category:
State:
Multi-State
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
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Direct Deposit to One or Two Accounts. Direct deposit payments must be made to checking or savings accounts.The payee must complete the form and return it to the paying agency to: Set up direct deposit. Make changes to direct deposit. Use this form to authorize your employer, retirement and pension funds, or any other agency to deposit your payment directly into your Texas Bank account. Can I Use Direct Deposit for Multiple Accounts? Yes, you can use Direct Deposit for multiple bank accounts if the organization or employer allows it. A prenote sends your account type, bank ID and account number to the bank to assure the accuracy of the numbers. You can automatically make deposits to multiple accounts. To sign up for direct deposit, fully complete, sign, and date the attached Texas Child Support Disbursement Unit Direct Deposit.
