What is Direct Deposit?
Direct Deposit is a method of fund transfer from bank to bank through payment gateways and ACH (Automated Clearing House), eliminating the need for physical checks in the process. Direct Deposit is a faster fund transfer mode through which you may pay employees/vendors or receive payments from customers.
Want your refund faster? Have it deposited directly into your bank account. More taxpayers are choosing direct deposit as the way to receive their federal tax refunds. More than 61 million people had their tax refunds deposited directly into their bank accounts in 2007. It’s a secure and convenient way to get your money in your pocket faster. Security. The payment is secure — there is no check to get lost. Each year thousands of refund checks are returned by the US Post Office to the IRS as undeliverable mail. Direct deposit eliminates undeliverable mail and is also the best way to guard against having a tax refund stolen. Convenience. There’s no special trip to the bank to deposit a check! To request direct deposit, you will need to submit your bank’s routing number along with the account number that you want the check to be deposited. .Q: Where can i find my bank’s routing number? A: You can find the Bank Routing Number within the string of numbers located at the bottom of one of you
