Direct deposit authorization forms are documents which must be used by organizations, companies, or institutions who will be conducting and receiving funds transfer procedures for their members and employees. The form will record the affirmation of the individual who will be authorizing a direct deposit transaction, either for employment payment purposes or for the sending financial support to the organization.
Types of Direct Deposit Authorization Forms
Direct Deposit Authorization and Input Form – Four sections comprise this type of form. The first section is for indicating the department identification number of the authorizing employee along with his employee number, name, account number, and the type of action that he will be requesting from the organization or the company to conduct. The second section and third sections, on the other hand, will collect the details of the employee’s accounts including its routing transit numbers, account type, and percentage net pay. And lastly, the authorization agreement statement will be stated which is accompanied by a signature block to be signed and dated by the employee.
Direct Deposit Authorization and Input Form
Direct Deposit Authorization Change Form – This form is only suitable to be used by individuals or employees who will be changing their direct deposit account information in order to update their details and to ensure that the transaction will be conducted properly and to the right account. The types of information which will be documented in the direct deposit authorization change form would include the employee’s name with the name of the financial institution or bank of his account, the type of account he had in each institution, the amount to be deposited periodically, and the type of change to be executed to his account.
Direct Deposit Authorization Change Form
Direct Deposit Authorization Instructions Form – Compared to the aforementioned form types, this document is not to be filled out nor to be submitted by an individual or the authorizer of the deposit transaction. However, it must be read and understood by the authorizing individual in order for him to effectively fill out the authorization form which will be provided by the company with the instructions form.
Direct Deposit Authorization Instructions Form
Direct Electronic Deposit Authorization Form – This is the form that employees with pension funds and benefits can use to inform and authorize a pension fund provider to deposit pension amounts to allocated accounts. The name of the employee or the pension member along with his social security number, address, phone number, and beneficiary’s social security number will be stated in the form. The election of the direct deposit, the pension fund type, and the stamp of the financial institution or the pension fund provider will also have to be included to complete the authorization form.
Direct Electronic Deposit Authorization Form
Disbursements Direct Deposit Authorization Form – Companies who conduct disbursement procedures to their employees must have disbursements direct deposit authorization forms on hand. Specifically, a disbursement allows an employee to receive a payment from the company’s funds or allotted budget. Three sections in the form are to be completed by the employee who is claiming the payment while the last section is for the company’s authorized personnel who will verify the authorization.
Disbursements Direct Deposit Authorization Form
Flexible Spending Direct Deposit Authorization Form – The one who will use this type of form is the employee who will be requesting his spending or expense reimbursement to be sent to a financial institution via direct deposit. The employee must indicate his name and his ID number in the allotted areas of the form with his signature and date when he used the form. Moreover, the authorization request of the employee, the general information of his recipient financial institution and an example of a voided check should also be in the form.
Flexible Spending Direct Deposit Authorization Form
How to Use Our Direct Deposit Authorization Form Templates
Follow the steps below to effectively use our direct deposit authorization form templates:
Step 1: Choose a template.
The template should suit the needs and preferences of the organization or the company who will be distributing it to their employees. The template’s size and layout should be considered as well as its document format.
Step 2: Click the download button.
The download button is located beside each template. Once the button is clicked, the file will be downloaded automatically which often lasts for a minute or less, depending on the internet connection of the device where the file will be downloaded.
Step 3: Extract the “.ZIP” file.
The format of the file which will be downloaded would be “.ZIP” file, regardless of the document format of the chosen form template. The purpose of the “.ZIP” file is to protect and ensure that the contents and pages of the form will remain intact when downloaded and used in varying devices.
Step 4: Save and customize the form.
The extracted form should be saved with a file name which can be easily remembered and located in the device where it is saved. After the form template is saved, the contents, entry fields, design elements and other parts of the form should be checked and be customized based on the standards of the organization or company.
Direct Deposit Authorization Form Sample
Accounts Payable Direct Deposit Authorization Form
Direct Deposit Authorization Form in DOC
Employee Direct Deposit Authorization Form
Direct Deposit Authorization Form Tips
When using direct deposit authorization forms, the employee or the authorizer should make sure that he had disclosed accurate data and information in each part of the form. If there are concerns and questions to be raised, then the authorizer should contact the organization or the company to ask for assistance in lieu of his concern in filling up the form.
On the other hand, the company who will be receiving the completed direct deposit authorization forms of their employees and authorizers should also review, check, and verify the information in the form. The verification procedure is essential in ensuring that the information stated in the form are of the authorizer and are not falsely claimed data from other individuals or from stolen accounts.
Payee Direct Deposit Authorization Form
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Employee Direct Deposit Authorization Form
Lastly, the authorization form should also be submitted by the employee or authorizer along with other documents or legal forms to prove his identity. And after the collection of the forms and documents, the company should retain each document in their records which are associated with the employee or authorizer.
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