When you’re seeking additional banking services and ways to transfer and deposit your money, direct deposit is one reliable and convenient option. Setting up direct deposits allows you to receive monthly recurring account credits automatically and immediately access those funds.
No matter if you’re retiring or starting your very first job, Community National Bank & Trust is happy to help our customers with setting up direct deposit capabilities at any of our banking centers in Kansas, Missouri, and Oklahoma. Learn more about how you can start receiving your regular payroll or government benefit checks quickly and hassle-free via direct deposit.
What is direct deposit?
As electronic banking and payments have become the norm, it only makes sense to allow banking customers the option to receive monthly income through direct deposit: an automated, electronic transfer of funds from one financial account to another. Through a network called the Automated Clearing House (ACH), these payments are coordinated among financial institutions around the country.
The most common use of direct deposit is to transfer money from a company’s or employer’s bank account to employees’ checking or savings accounts. Recipients do not need to “accept” or confirm any of these payments; rather, the new funds will be reflected in the account balance.
When setting up your Community National Bank & Trust account for direct deposits, you’ll need to know your:
- Account type, account number, and routing number
- Employer’s or employees’ name(s) and address(es)
Why set up direct deposit?
Though cash and paper checks come with their own uses and benefits, there are plenty of reasons that both businesses and banking customers prefer direct deposit. In fact, many employers even require it nowadays.
Some key benefits of direct deposit include:
- Convenience—You can forget about that trip to the bank on payday; you don’t even have to pick up your smartphone to make a mobile check deposit, either! Direct deposit sends your recurring deposits right to the bank account of your choosing.
- Efficiency—Once your paycheck arrives, it’s already deposited, giving you same-day access to your hard-earned money. Direct deposit adds funds to your account and requires no action from you—whether you’re busy traveling or can’t make it to the bank during the workweek.
- Security—It’s much harder to misplace money that isn’t visible or tangible. Direct deposits seamlessly transfer dollars from one account to another, reducing the risk of any paper checks getting lost or stolen.
- Going digital—Save money and resources by keeping all your paycheck stubs or payroll records electronically and eliminating the need for printing, mailing, or depositing checks.
Still need to set up direct deposit for your regular VA, Social Security, or other federal benefit payments? Sign up online through the U.S. Department of the Treasury, as it is now required by law to switch to electronic payments.
Enroll in Direct Deposit for Your Checking or Savings Account
With decades of experience serving our communities’ individuals, families, and small businesses, Community National Bank & Trust offers a full suite of banking services and options to help make your financial journey a smooth one. We support our direct deposit capabilities with attentive customer service, ensuring you always have the money you need exactly when you need it. Find your nearest CNB&T banking center to get started today, or get in touch to set up direct deposit with your checking or savings account.