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Get a direct deposit form from the payer. For instance, if you want to set up direct deposit for your paycheck, you’ll get the form from your employer.
You can follow this simple three-step process if you’d like to set up direct deposit into savings instead of your checking account: Obtain a direct deposit form from the payer
What time does direct deposit hit major banks in the U.S.? Here's what you need to know about direct deposit times and what you can expect.
A direct deposit (or direct credit), in banking, is a deposit of money by a payer directly into a payee's bank account. Direct deposits are most commonly made by businesses in the payment of salaries and wages and for the payment of suppliers' accounts, but the facility can be used for payments for any purpose, such as payment of bills, taxes ...
As of 2006, tax filers may split their tax refund with direct deposit in up to three separate accounts with three different financial institutions. This has given taxpayers an opportunity to save and spend some of their refund (rather than only spend their refund).
You can (or may have to) sign up for direct deposit of other payments, such as your Social Security benefits, pension payouts, military retirement pay and unemployment benefits.