• Privacy Policy
  • Terms and Conditions
  • DMCA
  • Contact Us
  • Whitelist
Tuesday, June 28, 2022
  • Home
  • Wealth Management
  • Markets
  • Budgeting
  • Banking
Impulse Wealth
  • Home
  • Wealth Management
  • Markets
  • Budgeting
  • Banking
No Result
View All Result
Impulse Wealth
No Result
View All Result

How to Set Up Direct Deposit

December 2, 2021
in Wealth Management
0
How to Set Up Direct Deposit

If direct deposit sounds like something you’d be interested in, here are some key steps you’ll need to follow in order to get everything set up. Remember, most employers and even many government agencies offer direct deposit, so this is a totally secure and convenient way to get paid.

1. Get a Direct Deposit Form From Your Employer

Start by asking your employer for a direct deposit form. This is a crucial step since you can’t continue without this. The direct deposit form is a document that authorizes your employer to send money to your bank account using an American Bankers Association (ABA) routing number and a bank account number.

2. Provide Your Personal Bank Account Information

To complete the form, you will need to add information like:

  • Your bank account name and address
  • Bank account number
  • Routing number
  • Type of account (checking or savings)
  • Name(s) of the account holder

You can find most of this information on a voided check, your bank account statement, or via your mobile bank account app.

3. Decide How Much Money You Want to be Deposited Into Your Bank Account

Next, be sure to determine how much money you want to be deposited into your bank account.

While some people opt to have their entire paycheck deposited into their checking account, a cool feature with direct deposit is that you can split up the payment between your checking and savings accounts.

For example, you may want your employer to deposit 10% of your income to your savings account and the remaining 90% into your checking account.

Chime’s automatic savings feature, for example, makes it easy for you to do this so you don’t have to think about saving money. This way you can set aside a portion of your income automatically and budget the rest of your paycheck for other expenses.

Another option you may want to consider is splitting up your direct deposit amount between your checking account and your partner’s checking account. If you combine expenses with your spouse or live on one income, this may be a convenient way to disperse your paycheck.

4. Include a Direct Deposit Check or Deposit Slip With Your Form

A direct deposit check is simply a check that has been voided. This indicates that the check can’t be accepted for payment, but can be used to gather important bank account details and information.

And, even though you’re already providing this information on the direct deposit form, it’s still a great idea to verify everything with a voided check to ensure that your paycheck gets deposited into the correct account.

5. Submit Your Direct Deposit Form to Your Employer & Monitor Your Bank Account

Check to make sure that the information on your direct deposit form is accurate before you turn it in. Your employer or the HR department should let you know how long it will take to process your information and set up your direct deposit.

You may have to wait one or two pay periods, but keep your eye on your bank account around payday so you’ll know when the direct deposit kicks in.

Source
How to Set Up Direct Deposit is written by Chonce Maddox for www.chime.com

Previous Post

Financial Literacy for Kids | Chime

Next Post

Inflation at its peak – what are the reasons?

Next Post
Inflation at its peak – what are the reasons?

Inflation at its peak - what are the reasons?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Newsletter

  • Trending
  • Comments
  • Latest
How many chips are installed in a car?

How many chips are installed in a car?

August 9, 2021
Millennials and Bank Branches: A Bad Match

Millennials and Bank Branches: A Bad Match

December 5, 2019
Inflation at its peak – what are the reasons?

Inflation at its peak – what are the reasons?

April 7, 2022
HSA vs. FSA Differences | Chime

HSA vs. FSA Differences | Chime

November 4, 2021
Save More Through Chime’s Partners

Save More Through Chime’s Partners

0
Millennials and Bank Branches: A Bad Match

Millennials and Bank Branches: A Bad Match

0
Retail Branches Pose an Existential Threat to Banks

Retail Branches Pose an Existential Threat to Banks

0
Retail Branches Pose an Existential Threat to Banks

Retail Branches Pose an Existential Threat to Banks

0
Save More Through Chime’s Partners

Save More Through Chime’s Partners

June 27, 2022
Increasing growth risks – Erste Asset Management

Increasing growth risks – Erste Asset Management

June 27, 2022
Is Now a Good Time to Buy a House?

Is Now a Good Time to Buy a House?

June 24, 2022
Crypto, NFTs, and Stocks: Should You Invest?

Crypto, NFTs, and Stocks: Should You Invest?

June 23, 2022

Categories

  • Banking
  • Budgeting
  • Markets
  • Wealth Management

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • March 2020
  • January 2020
  • December 2019
  • November 2019
  • Privacy Policy
  • Terms and Conditions
  • DMCA
  • Contact Us
  • Whitelist

© 2021 All Rights Reserved impulsewealth.net

No Result
View All Result
  • Home
  • Wealth Management
  • Markets
  • Budgeting
  • Banking

© 2021 All Rights Reserved impulsewealth.net