Direct Deposit - Frequently Asked Questions

Q: What is Direct Deposit and how does it work?

A: Direct Deposit is a safe, proven, confidential method of receiving a payment. Money is electronically transferred from a company or organization into your checking or savings account.

Q: Why is Direct Deposit good for consumers?

A: Direct Deposit is secure, convenient and fast. Payments made by Direct Deposit have never been lost. Direct Deposit saves consumers from waiting in lines at the bank, and it gives many people access to their money one to four days earlier than a check. The satisfaction rate for Direct Deposit is 97 percent.

Q: What will Direct Deposit cost?

A: Direct Deposit is a free service offered by your employer and most financial institutions.

Q: How do I know when my payment has been deposited?

A: Most employers will issue a payment stub that is identical to what you receive with a traditional paycheck. It will show how much was deposited in your account and how much was taken out of your pay for taxes, insurance and other items.

Q: When do I have access to the money?

A: Typically, your payment is available first thing in the morning on payday.

Q: If I sign up for Direct Deposit, how can I be sure that no one will have access to my account?

A: Direct Deposit is a confidential way to send and receive payments. Although your company does have a limited ability to reverse your Direct Deposit payment, it can only access funds that were deposited in error, generally when the company has issued the transaction twice or issued a deposit in the wrong amount. On average, fewer people see your account information with Direct Deposit than with checks.

Q: Can I divide my pay among different accounts if I use Direct Deposit?

A: Yes. You can have your pay deposited into one account or split among several accounts. This financial flexibility is one of Direct Deposit's best features. Decide once how you want your pay divided and your plan will be carried out automatically every pay period. This increases your financial control and discipline in saving for the future.

Q: How do I find my Bank's Routing and my Account number?

A: Every check that you write has your Bank's Routing/Transit number on the bottom along with your specific Account number on it. It also might have the check number.

Q: If I have a problem with Direct Deposit, how do I solve it? Who should I call?

A: Problems with Direct Deposit are rare. In fact, you are much more likely to have a problem with a check. But if any matter should arise, contact your employer's Payroll or Human Resources department. The problem can usually be corrected immediately.

Q: What happens if I change banks?

A: Just fill out a new authorization form and provide your written permission to switch accounts to your employer.

Q: How do I sign up for Direct Deposit?

A: First, find out if your employer offers Direct Deposit. If it is available, your Human Resources or Payroll Department can give you the authorization form or you can fill our authorization form online and give it back to your employer. If Direct Deposit is not available, ask your Human Resources representative to consider offering it.