What is Direct Deposit?
Direct Deposit is a trust fund disbursement option that replaces checks and provides the automatic, electronic transfer of funds directly to a beneficiary’s checking or savings account at his/her financial institution. With Direct Deposit, trust disbursements—regardless of the dollar value—are automatically and immediately deposited to a financial institution account. Unlike a check, there is no danger of funds being misplaced, stolen or lost in the mail. To enroll for Direct Deposit, beneficiaries may contact the Trust Beneficiary Call Center toll-free at (888) 678-6836 or their Fiduciary Trust Officer.
Direct Deposit is an Automated Clearing House (ACH) transaction that is a safe, proven, and confidential method of receiving a payment. With Direct Deposit, your pay check is electronically transferred by the Brown University Payroll Office into your checking or savings account (or multiple accounts).
