Setting up direct deposit shouldn’t be difficult. However, something always seems to go wrong. Use these tips for trouble free direct deposit.
1) Verify your bank takes direct deposits
Believe it or not, some small banks and credit unions cannot receive direct deposit transactions. If you bank with a small local institution, give them a call to verify they can receive your direct deposit.
2) Checking or Savings accounts
You need to know what type of account your deposit is going into. It seems trivial now but specifying the wrong type of account on your direct deposit setup form can delay your direct deposit. If your are unsure, your bank will be more than happy help with this.
3) Provide a voided check
I know, this sounds counter intuitive. You’re trying to get your money electronically, why should you provide a piece of paper. Also, they are paying you, why do they need a check?
Your personal check has all the information needed in order to setup a direct deposit.
The series of numbers at the bottom of the check are you bank’s routing number and your account number. Providing this to the payroll department ensures they setup your direct deposit correctly the first time. Avoid providing a deposit slip, even if the payroll depart asks for one specifically. Some banks do not put their official routing number on the deposit slips. Stick to actual checks. Lastly, be sure to write “void” in the signature area on the front and endorsement area on the back.