Direct Deposit Form

What is a Direct Deposit Form?

The form is typically required during onboarding processes for employment, when applying for benefits, or whenever a payee wishes to establish or modify electronic payment arrangements with any organization that regularly disburses funds.

A direct deposit form is needed in several common situations:

• When starting new employment, to receive salary or wages electronically
• When setting up government benefit payments (Social Security, tax refunds, veteran benefits)
• When establishing automatic dividend or investment distributions
• When arranging for pension or retirement fund payments
• When setting up recurring payments from insurance companies
• When changing banking information for existing direct deposit arrangements