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 Authorization Form From Your Bank In Washington
Category:
State:
Multi-State
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
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The Direct Deposit Authorization Form should be used to perform the following: Set-Up Direct Deposit Payment. To change your bank account.1). Complete the name of the bank, 9 digit ABA Number (precedes account number on check), account number, and amount you would like deposited. 2). I want to receive direct deposit for my payments or update my bank information. Complete the rest of the form. This Direct Deposit Authorization Form allows you to set up automatic deposits into your Security Bank account. Employee: (1) Complete the upper portion of the form, sign, and date. (2) Complete the lower portion, or attach a voided check (see below). To start or change a direct deposit, a voided check printed with your bank routing number and your account number must be attached.
