Printable Direct Deposit Form Template Word
Advantages of Using Direct Deposit Form
Direct deposit form is one of the many ways where you can send or transfer money (payment) from one bank account to other bank account just by filling out a form. There are also different types of direct deposit that are available for you to use depending on your needs. Usually a direct deposit is used to pay employee’s wages, as it is automatic payment that goes into the account per certain date or day. Before direct deposit becomes popular, a lot of people are using checks. These days though, people rarely use checks any more, because using direct deposit especially automatic one is way easier.
There are several reasons why people would use direct deposit. By using direct deposit, the funds that will be added into your account won’t need your confirmation. Whether you want the funds to be deposited into your savings account, checking account or other types of account, direct deposit can be the fastest and easiest way to be arranged for payrolls of wages and salaries. Other than that, by using direct deposit and not check, you won’t have to wait for mails or waste paper to do it.
When you want to set up a direct deposit for your salary to be automatically done for your account, you can fill in your information by using a direct deposit slip or form. Usually in a slip, it will include a routing and account number for the bank’s perusal. You might want to confirm to the bank though, because some banks have different numbers for their deposit slips or checks. To avoid further errors especially from the bank’s part for its routing number, account number or invoice number, you will want to re-check your details and information once you have entered them on your deposit form or slip.
Using a direct deposit enrolment form will ensure for your deposits to be credited automatically. Usually in this kind of form, you will be able to see all banking information such as name (personal or business), P.O. Box or Address, City, Country, Amount of money, signature, branch number, account number and bank routing numbers. You will need to ensure that all the information entered on the form is correct, so that the check can be cleared easily by the bank to your account.
When you are trying to set up your automatic deposits or payments from your checking account, you will need to provide a voided check for direct deposit in order for the process to be cleared faster. After the check is cleared to the bank, you will still have to make sure to void the check. How to do this? You can do so by writing the word “VOID” at the front of the check in large letters. Make sure that it is tall and visible enough to be seen. By writing the letter in front of your check, you are preventing the check from using the check to make a deposit or a payment. Make sure that you scan or photocopy the voided check, so you also have a copy proof of the voided check with you to be documented and filed.
direct deposit form – download