What is a Payroll Direct Deposit Employee Authorization?

Direct deposit is a payment option where your funds are electronically transferred to your checking or savings account. This can help the payee receive payment faster and avoid dealing with physical checks.

In many cases, direct deposit means your payroll checks are automatically deposited into your bank account. You would typically set up this type of direct deposit with your employer. But, you can also use direct deposit for tax refunds and other types of payments. The benefit of direct deposit is that funds are seamlessly transferred from the payer to the payee. Like the name suggests, the funds are directly deposited into a bank account for easy and quick access.

How to Set-Up a Payroll Direct Deposit?

If you want to avoid cumbersome checks and ensure you get paid quickly, signing-up for direct deposit is key. Whether you sign-up for direct deposit through your employer, a vendor or another company, typically the process is the same.

Of course, each company may have different forms you need to fill out to process the request. In all likelihood, you’ll need the following types of information:

• Your bank routing number (which differs by bank)
• Your account number (this is the account you want the funds to go into)
• Your bank’s address
• A voided check

Sources: https://www.chimebank.com/2018/04/06/what-is-direct-deposit/