The usual deposit process – writing a check and mailing off the payment – is too much hassle, more expensive and more prone to identity theft and fraud. Efficient paying method equates to moving from pen and paper to computer and keyboard as in the case of direct deposit form template.
Advantages of Direct Deposit Form Template
- The main advantage of using direct deposit form template for businesses, independent contractors or for personal reasons is that it facilitates the authorization of direct deposit of funds quickly and easily. It cuts down on the time and hassle of going to a teller machine or a bank ATM. And most of all, you don’t have to worry about misplacing the check or missing information on it. It gets the money into the account of the receiver faster than any other methods, which in turn could help him or her avoid fees for overdrafts.
- The direct deposit form template can be used by any type of establishments no matter how big or small it is. If you work for an employer, it is the responsibility of the human resource or payroll department to help you get signed up for direct deposit. All you need to do is enter the relevant information on the form, such as bank routing number, name of the bank and account number.
- This is an electronic form that can be used easily and conveniently to collect data and store it in a desired place. These forms can be made easily accessible with a click of a button whenever required. And for many companies, having a direct deposit form template for money transfers is not only a standard but a compliance requirement.
- There are many ways to use this template to pay employees or charge a business. Not only will you ensure bills are paid on time, you are sure to avoid expense related to envelopes, checks, postage and the hassles that come along with them. Furthermore, you don’t even have to access the internet to request fund or pay the amount every time. Set up an automatic monthly withdrawal, or debit, and the rest will be taken care of by the software. There is also provision to change the order in which you intend the employees to complete the form.
With direct deposit form template, you will have the peace of mind knowing that important transactions related to your business are being managed safely and accurately.
Download: Direct Deposit Form Template