To sign up for free direct deposit, fill out a direct deposit authorization form, and turn it in to your employer's payroll department, according to TD Bank. The form includes information such as the name of your bank, type of account, account number and your bank's routing number.Continue Reading
After this, your employer's payments are transferred directly into your bank account, says TD Bank. You don't have to wait for a check to clear. Payments from pensions can be set up in a similar fashion as payments from your employer.
The U.S. Treasury Department requires that all recipients of federal benefits set up an electronic payment procedure that is equivalent to a salary direct deposit, reports TD Bank. You can set up direct deposit for these funds by contacting your bank, visiting the Treasury Department's GoDirect website or calling the Treasury Department's electronic payment solution center. To sign up for direct deposit with the Treasury Department, make sure you have all the same information used for the authorization form to set up direct deposit with an employer, your Social Security or claim number, benefit amount, and the 12-digit benefit check number, which is located on the upper right-hand corner of the benefit check. The funds from your Social Security benefits are available in your account as soon as they are transferred into it.Learn more about Personal Banking