Direct Deposit
It's payday, and your money is already in your account.
Direct deposit is the electronic transfer of a payment from a company or organization into an individual's checking or savings account. It is the most widely used ACH electronic payment application and is a smart way to be paid. It is ideal for payroll, tax refunds, pensions, dividends, bonuses, or other payments.
Direct Deposit is simple.
- Once you have signed up for Direct Deposit, you don't have to go to the bank to deposit checks.
- Your money is automatically deposited into your account on time, every time - and you don't have to be at work - or even in town!
Direct Deposit is safe.
- Direct Deposit payments never get lost.
- Direct Deposit is confidential. Money is transferred electronically and passes through fewer hands than a check.
- Problems with Direct Deposit, which are rare, are quickly resolved.
- Almost 85 percent of identity theft starts with someone seeing your personal financial information on a paper check, billing statement, or bank account statement. Once
- Electronic payments are set up, the money travels electronically, greatly reducing the number of people who see your personal information.
Direct Deposit is smart.
- Direct Deposit gives you access to your money earlier than check deposits. There is no waiting for checks to clear.
- Direct Deposit puts you in charge of your money. Financial planners recommend Direct Deposit as one step towards gaining control of your finances.
- With Direct Deposit, you decide how to divide your pay among your accounts and it will be done automatically.
- Employers will issue a payment summary of every deposit that will look much like your paycheck stub looks today. It will show your deductions for taxes, insurance, and other obligations, and will reflect the balance that was deposited into your account(s).
To set up a direct deposit of your payroll or any other payment requires you to contact the company and complete the paperwork. They will normally want a voided check from your checkbook containing your bank's routing number and your account number. The routing number is the first set of numbers on the bottom left of your check. The routing number is followed by your account and the number of the check itself.
Contact a customer service representative at one of our office locations if you need help. We are here to help serve you.