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Question about Direct deposit and employers

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7 years 5 months ago #876 by Ty Truong-Jones
I have a question regard direct deposit and employers.

I'm learning that a direct deposit form is required, to set this feature up.

Do employers accept these forms, how frequent, and do many employers follow strict regulations with this.

How does it work?

Any advice would be greatly appreciated. Do deposits, vary?

Thanks!
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7 years 5 months ago #877 by Kap-Chew
Sorry, I don't really understand your word of "Direct deposits". Does it relate to payroll? Can you give me an example to elaborate on your question?
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7 years 5 months ago #878 by Ty Truong-Jones
I guess payroll is a simplified way of putting it. But I don't think, it fixes everything.

Are you familiar with the term direct deposit. As a way of an employer paying your paycheck directly to your account, without an actual pay check, on pay day.

'I guess my questions is two parted.

1. What system is established on the employers side, to enable this feature. Is it a computer related program, or merely a business banking procedure.

and 2. What is the employee legally suppose to do, does he sign over a paper allowing them this right, or is a signature a requirement when handing an employer your direct deposit sheet?

That's all. Thanks.
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7 years 5 months ago #879 by Kap-Chew
Hi Ty,

Thanks for the explanation, I could understand you clearly now. For now the system does not deal with actual fund transfer directly from employer to employee yet (e.g. direct deposit), this would require integration with banks later ^^
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7 years 5 months ago #880 by Ty Truong-Jones
Oh O.k. well thanks for the explanation. Appreciate the response.
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