FAQ: Direct Deposit

Must I use a particular bank?

No. You may have your pay deposited to the banking institution of your choice. While you may designate only a single "checking" account for your net pay, most banking institutions will distribute your net pay from a single checking account into one or more other accounts, such as savings, IRA, or loan payment. Almost all banking institutions have incentives to encourage you to send your Direct Deposit to them. If you don't have a checking account or aren't happy with your current banking institution, go to several and select the banking arrangement that is best for you in terms of convenience, safety, service, interest on your deposits, and cost of service.