Guide to Set up Direct Deposit
Setting up direct deposit is a convenient way to have your paychecks or other payments deposited directly into your bank or credit union account. With direct deposit, you don’t have to worry about going to the bank or credit union to deposit a check in person, and you can access your funds as soon as they are deposited. Here are the steps to set up direct deposit:
Contact your bank or credit union to get your routing number and account number. The routing number is a 9-digit code that identifies your financial institution and is used to process electronic transactions. The account number is a unique number assigned to your account that is used to identify the specific account where your funds will be deposited. You can usually find these numbers on your checks or by logging into your online banking account. If you don’t have access to your checks or online banking, you can also call your bank or credit union to ask for these numbers.
Provide your employer with your routing number, account number, and the name of your bank or credit union. Your employer will need this information to set up the direct deposit. You may be asked to fill out a direct deposit form, which will ask for your account information and may include a place to write in the name of your bank or credit union. You may also be asked to provide a voided check to verify your account information. A voided check is a check that has “void” written across it and cannot be used to make a payment.
Submit the direct deposit form and any other required documents to your employer. Make sure to double-check that you have filled out the form completely and accurately, as any errors could prevent your direct deposit from being set up properly.
Wait for your employer to set up the direct deposit. It may take a pay period or two for the direct deposit to start, so make sure to continue to check your account to ensure that your pay is being deposited as expected.
Keep track of your direct deposit payments. It’s a good idea to keep a record of your direct deposit payments, either by saving your pay stubs or by tracking your payments through your online banking account. This can help you make sure that you are receiving the correct amount of pay and can help you resolve any issues if you have a problem with your direct deposit.
Overall, setting up direct deposit is a simple process that can save you time and hassle. By providing your employer with your account information and filling out the necessary forms, you can have your paychecks or other payments deposited directly into your bank or credit union account, giving you quick and easy access to your funds.