How to Use a Bank Direct Deposit Form?
There are many ways where you could deposit the funds of your company or organization into the bank. You could use a bank direct deposit form to make it easier for you in depositing some funds into the account.
At the end of each week, usually, someone from the finance department would go to the bank and deposit some amount of money to balance the cash flow of the company. This could also be the total amount of the profit that is gained by the company after the month-end financial report is done. How to use this type of form properly though? Here is how.
Once you are submitted as one of the staff in the finance or accounting department to be the contact person and someone that have access to deposit the funds of the company into the company’s bank account, you could then fill out the bank direct deposit form.
After you submit the form, usually, the bank will give you a copy of the deposit form. This is done to keep track of the deposit and as proof that some amount of money is deposited into the company’s bank account.
There is some information that will clearly be stated on the form, such as the day and date of when the deposit is being made, the company’s name, the company’s bank account detail, the amount that will be deposited into the account, and also your signature as the person that will be depositing the funds into the account.
Depending on the type of account that the company has, you could deposit the funds into the checking account or the savings account. There are 2 options and you will have to choose 1 before being able to deposit the funds. For a checking account, you will have to make sure that you include a voided check as well.
Most of the time, with this type of deposit and by using a bank direct deposit form, you will have to wait 2 business days before the funds can be seen in the company’s bank account statement. Other than depositing funds into the bank account of the company you are working at, you could also deposit funds to other bank accounts on behalf of the company. This can be done using the same type of form too.
You will have to make sure that you fill out all the details (company’s name, address, city, postal code, bank account details, bank name, bank account number, routing number, amount of funds deposited, and type of account) correctly too.
Bank Direct Deposit Form | PDF – download