does each bank have diffwerent rules to go by or are they same for all??
2006-08-18 18:52:50 · 6 answers · asked by roadrunnerpine 1 in Business & Finance ➔ Personal Finance
Perhaps the Check21 law changed things somewhat, but direct deposit works more or less the same -- it's only the sending bank or fund that has its own rules.
2006-08-18 18:58:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Each bank sets their own rules and possible fees... Check 21 has absolutely nothing to do with direct deposits that is just absurd dude... Do your research. OK sorry about that.
the process is about the same your employer's bank sends the money through the fed. The money is credited to your bank and then your bank credits the money as per your employers bank instructions. once your bank gets the money they follow their own procedures so ask them.
2006-08-19 14:51:41 · answer #2 · answered by Jen 3 · 0⤊ 0⤋
most banks are the same with direct deposited my SSi go into directed deposit and i also get a statement from my bank when my check is to be deposit into my checking account. Usually take a day to show up on my bank statement. I would go for the direct deposit it is safer these days and you will not have it stolen
2006-08-19 02:01:25 · answer #3 · answered by ? 5 · 0⤊ 0⤋
Pretty much universal. You authorize the deposit to be made (pay role check, pension check, SSI, etc.) and it just goes in to the account electronically.
2006-08-19 02:00:44 · answer #4 · answered by Dusty 7 · 0⤊ 0⤋
they have got to be about the same. I guess I dont know something to call and ask your local banker.
2006-08-19 01:58:03 · answer #5 · answered by Bo Beeta 3 · 0⤊ 0⤋
They love it, it saves them money and gets them customers.
2006-08-19 09:36:41 · answer #6 · answered by Anonymous · 0⤊ 0⤋