Direct deposit is a process where someone who is going to be paid on a recurring basis, such as an employee, or a recipient of a government entitlement or benefit program such as social security, is sent the payment owed to them into their checking or savings account. The reasons for doing this include:
- Instant access to the funds via an ATM or check card;
- A check can be lost or stolen anywhere between the sender and the intended payee;
- Payments made electronically can be less expensive to the payor.
Direct deposit eliminates mailing delays and alleviates the need to go somewhere to cash or deposit your check.
Direct Deposit Form Document For Employees In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
Form popularity
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Agreement for Payroll Direct Deposits, Form FI 21, available electronically from finance.utah.gov. 1. Complete Form FI 21: • Sign and date the form.Click on Employee Online on the left hand side. The 'MAIN' account receives the balance of your pay after all the 'OTHER' direct deposits you designate are made. You must specify amounts for all. This authorization form is critical for organizations to utilize the efficiency of direct deposit, as well as to stay legally compliant in their payroll. I authorize Salt Lake City Corporation and the financial institution listed below to initiate electronic deposits and,.
