How to Set Up Direct Deposit

Get a direct deposit form from your employer, fill it in, attach a check or deposit slip, then submit it.

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Direct deposit is a free electronic transfer service that sends your paychecks or benefit checks to a bank account or prepaid debit card of your choosing.

Having Chase or Bank of America direct deposit, among other banks', can also help you avoid monthly checking account fees.

Here’s everything you need to know about how to set up direct deposit at your financial institution.

1. Get a direct deposit form from your employer

Ask for a written or online direct deposit form. If that isn’t available, ask your bank or credit union for one. We’ve included a list of forms from top banks and credit unions, including the Capital One and Bank of America direct deposit forms.

Routing number: 271081528

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

at Alliant Credit Union, Federally insured by NCUA

Routing number: 124003116

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

Routing number: 031176110

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

Routing number: 121202211

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

at Chase, Member FDIC

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

Consumers Credit Union direct deposit form

Routing number: 271989950

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

at Consumers Credit Union, Federally insured by NCUA

Routing number: 031100649

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

at Discover® Bank, Member FDIC

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

at SoFi Bank, N.A., Member FDIC

Routing number: 021213591

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.

If you receive Social Security or other federal benefits, it’s legally required to get them through direct deposit or a Direct Express prepaid debit card. To sign up, visit Go Direct or call (800) 333-1795.

» Get your paycheck faster: See our list of banks with early direct deposit

2. Fill in account information

You typically need to provide the following personal and bank details:

Bank's mailing address . Find this on your bank statement or your financial institution’s website. If you use your bank's direct deposit form, you'll likely need your employer's address.

Bank's routing number . This is the nine-digit number, also known as the American Bankers Association — or ABA — number, printed on your bank statement or along the bottom left of your checks.

Your account number . This comes after the routing number on the bottom of your check. You may also find it on your deposit slip or bank statement.

Type of account . This typically will be your checking or savings account. It’s where your direct deposit will go.

Many checking accounts can receive direct deposits up to two days early . Check with your bank to see if it offers this free, automatic feature.

3. Confirm the deposit amount

You can choose to deposit 100% of the check into a checking account, but there’s a benefit to splitting direct deposit into two or more accounts. If you can put a portion, such as 20%, of your paycheck or benefit check into a high-yield savings account, you can save automatically each month. (To find savings accounts with the highest rates, see our list of the best online savings accounts .)

SoFi Checking and Savings

SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 8/27/2024. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

EverBank Performance℠ Savings

Barclays Tiered Savings Account

These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.

These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.

on Wealthfront's website

Wealthfront Cash Account

on Betterment's website

Betterment Cash Reserve – Paid non-client promotion

*Current promotional rate; annual percentage yield (variable) is 5.50% as of 4/2/24, plus a .50% boost available as a special offer with qualifying deposit. Terms apply; if the base APY increases or decreases, you’ll get the .75% boost on the updated rate. Cash Reserve is only available to clients of Betterment LLC, which is not a bank; cash transfers to program banks conducted through clients’ brokerage accounts at Betterment Securities.

CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.

CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.

Marcus by Goldman Sachs High-Yield CD

4.70% APY (annual percentage yield) as of 08/30/2024

Federally insured by NCUA

Alliant Credit Union Certificate

Annual Percentage Yield (APY) is accurate as of 08/20/2024

Discover® Cashback Debit

Chase Total Checking®

Deposits are FDIC Insured

Chime Checking Account

Discover® Money Market Account

4. Attach a voided check or deposit slip, if required

Some employers use a voided check or deposit ticket to verify the account and routing numbers. If you’re asked to do this, write “VOID” across the front of a blank check, which ensures the check’s unusable if it’s lost or stolen. Then attach the check or slip to the direct deposit form.

5. Submit the form

Give the form to your employer, and wait for the direct deposit to go into effect. It may take weeks, so monitor your bank account regularly.

Direct deposit is a convenient service that can give you faster and safer access to your hard-earned money than a check. You’ll need to take some time to set up the automatic deposit. But you’ll save time later by eliminating trips to a bank to cash checks — or waiting for checks to clear. It is also a great way to automate saving money each month.

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