How to Set Up Direct Deposit - NerdWallet (2024)

Direct deposit is a free electronic transfer service that sends your paychecks or benefit checks to a bank account or prepaid debit card of your choosing.

Having Chase or Bank of America direct deposit, among other banks', can also help you avoid monthly checking account fees.

Here’s everything you need to know about how to set up direct deposit at your financial institution.

1. Get a direct deposit form from your employer

Ask for a written or online direct deposit form. If that isn’t available, ask your bank or credit union for one. We’ve included a list of forms from top banks and credit unions, including the Capital One and Bank of America direct deposit forms.

Alliant Credit Union direct deposit form

Routing number: 271081528

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at Alliant Credit Union, Federally insured by NCUA

Routing number: 124003116

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Capital One 360 direct deposit form

Routing number: 031176110

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Charles Schwab Bank direct deposit form

Routing number: 121202211

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at Chase, Member FDIC

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Consumers Credit Union direct deposit form

Routing number: 271989950

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at Consumers Credit Union, Federally insured by NCUA

Discover® Bank direct deposit form

Routing number: 031100649

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at Discover® Bank, Member FDIC

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at SoFi Bank, N.A., Member FDIC

Sychrony Bank direct deposit form

Routing number: 021213591

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If you receive Social Security or other federal benefits, it’s legally required to get them through direct deposit or a Direct Express prepaid debit card. To sign up, visit Go Direct or call (800) 333-1795.

» Get your paycheck faster: See our list of banks with early direct deposit

2. Fill in account information

You typically need to provide the following personal and bank details:

  • Bank's mailing address. Find this on your bank statement or your financial institution’s website. If you use your bank's direct deposit form, you'll likely need your employer's address.

  • Bank's routing number. This is the nine-digit number, also known as the American Bankers Association — or ABA — number, printed on your bank statement or along the bottom left of your checks.

  • Your account number. This comes after the routing number on the bottom of your check. You may also find it on your deposit slip or bank statement.

  • Type of account. This typically will be your checking or savings account. It’s where your direct deposit will go.

  • Other. Some forms also ask for your Social Security number or mailing address.

» The parts of a check: How to find your bank routing number, account number and other important information

🤓Nerdy Tip

Many checking accounts can receive direct deposits up to two days early. Check with your bank to see if it offers this free, automatic feature.

3. Confirm the deposit amount

You can choose to deposit 100% of the check into a checking account, but there’s a benefit to splitting direct deposit into two or more accounts. If you can put a portion, such as 20%, of your paycheck or benefit check into a high-yield savings account, you can save automatically each month. (To find savings accounts with the highest rates, see our list of the best online savings accounts.)

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SoFi Checking and Savings

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APY

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4. Attach a voided check or deposit slip, if required

Some employers use a voided check or deposit ticket to verify the account and routing numbers. If you’re asked to do this, write “VOID” across the front of a blank check, which ensures the check’s unusable if it’s lost or stolen. Then attach the check or slip to the direct deposit form.

5. Submit the form

Give the form to your employer, and wait for the direct deposit to go into effect. It may take weeks, so monitor your bank account regularly.

Direct deposit is a convenient service that can give you faster and safer access to your hard-earned money than a check. You’ll need to take some time to set up the automatic deposit. But you’ll save time later by eliminating trips to a bank to cash checks — or waiting for checks to clear. It is also a great way to automate saving money each month.

» RELATED: Learn six ways to steamline your bank accounts

How to Set Up Direct Deposit - NerdWallet (2024)

FAQs

What bank info do I need to set up direct deposit? ›

Each employee needs to provide the following information: bank name, account type, account number and routing number. Some states also require employees to sign a consent form before their employer can switch them to direct deposit.

Does Zelle count as direct deposit? ›

Person to Person payments (such as Zelle®) are not considered a direct deposit. Micro-deposits do not qualify as a direct deposit for the bonus. Micro-deposits are small deposits, typically less than $1, that are sent to your account to verify it is the correct account.

Does ACH count as direct deposit? ›

Direct deposits are a type of ACH payment – so yes, ACH is a direct deposit, but there are also other types of ACH payments. On the other hand, all direct deposits are ACH transfers.

How long does it take to set up a direct deposit? ›

Direct deposit is convenient, but its specific timeline can depend on your employer. Be prepared, when starting a new job, it can take 1 to 2 pay cycles for direct deposit to be set up properly. This may mean you'll still have to use physical checks for a little while longer until everything is set up.

Does Venmo count as direct deposit? ›

Your Venmo Direct Deposit account can be used to receive Direct Deposit funds from many sources, including the government. You can provide your Venmo Direct Deposit account number to the government for unemployment payments, tax refunds, Social Security payments, and more.

What qualifies as a direct deposit? ›

Direct deposit is a way of transferring money electronically into a payee's bank account. Direct deposits go through the Automated Clearing House (ACH), the network financial institutions use to move payments around the country. Direct deposit comes in handy for the following types of payments: Paychecks.

Why doesn't my job do direct deposit? ›

Some jobs don't make a direct deposit because employers prefer physical wages or because employees choose to receive physical wages. In many cases, this might be because the employer or employee doesn't have a bank account, making it impossible to process a direct deposit.

How do I know if my direct deposit is set up? ›

Online Banking: Log in to your bank's website or mobile app. Navigate to the recent activity section and search for the direct deposit transaction. It may be labeled with the payer's name or simply listed as "Direct Deposit." Bank Customer Service: You can also call your bank's customer service phone number.

Can I set up direct deposit myself? ›

Locate your banking information, including your account number and the bank's routing number. You can get this information from your checks or your bank's online banking platform. Fill out the direct deposit form. Complete the direct deposit form with your personal and banking information.

How to get banking info for direct deposit? ›

Your banking information is usually found in the line of numbers printed across the bottom of your cheques. If you don't have a cheque or if you need help, contact your financial institution. Let them know you're signing up for direct deposits and they'll give you the information you need.

Can I set up a direct debit to myself? ›

A Direct Debit is an instruction from you to your bank that authorises a company to take an agreed amount of money from your account. You won't be able to create a new Direct Debit yourself.

How much does it cost to set up direct deposit? ›

Setup costs will depend on the size of your business, your payroll software, and the bank you use. A bank may charge anywhere from $50 to $149, on average, to set up direct deposit. Also, if there are any compliance concerns, you may need to pay for legal advice.

How to set up direct deposit without employer cash app? ›

If you are having trouble logging in or do not see your employer as an option, you can set up Direct Deposits using a different method. Copy your Cash App account and routing numbers and enter them directly into your employer, payroll provider, or unemployment website.

Can I set up direct deposit without a bank account? ›

Can I do a direct deposit without a bank account? If you don't want to use a bank account, you might be able to set up direct deposit to a prepaid debit card. Check with the company that issued the card to see if you have this option.

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