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 Document For Editing In Virginia
Category:
State:
Multi-State
Control #:
US-00416BG
Format:
Word;
Rich Text
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How do I sign up for Direct Deposit? "Program Material" and then "For Commonwealth Employees.1. Gather bank account information including account number and routing number. Download Virginia Direct Deposit Authorization template, modify and send for signing using BoloForms Signature. Or you can print and complete the appropriate direct deposit form available on our website. Check with your employer to find out what form(s) are required. DIRECTIONS. To sign up for Direct Deposit, the payee is to read the back of this form. The claim number and type of payment are printed on Government. Before you begin, make sure you have your bank routing number, account number, and type of account (checking or savings) readily available. myPay.
