Monday, August 17, 2009

How to Set Up Direct Deposit

Our society uses computers more and more everyday for simple things. One of these such things is switching from hard checks to direct depositing. Here are a few simple tips on how to set up direct deposit if your job or company offers it.
Instructions
Step 1
Have a checking or savings account set up first, of course. This is where the money you earn from your job/company will be sent on payday.
Step 2
Check with your boss to see if you are available for direct deposit. Some companies do not offer it, so don't waste your time if this is not even an option.
Step 3
If your company does indeed support direct deposit, call your bank and obtain your account number and routing number. This is the information your company will need to route your paycheck straight into your account.
Step 4
Direct deposit can also be used for drafting money straight into savings accounts, retirement accounts, monthly mutual fund payments, etc. Having money direct deposited out of your check for savings purposes helps you get into the habit since you don't even have the money available to spend. Out of sight, out of mind.

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