Business Banking - Retirement Services
Lake City Bank's Direct Deposit service is one way to cut costs and simplify your life.
Stopping to cash or deposit your payroll check is inconvenient and time consuming. If your employer offers Direct Deposit, you can have your pay electronically deposited to your checking and/or savings account. If you have Direct Deposit, your employer will still provide all the important pay stub details to you on payday. You will save time by not having to make a special trip to the bank because the Direct Deposit service offered by your employer allows for an automatic transfer into your designated bank account.
Verifying the Deposit Transaction
In addition to receiving a pay stub from your employer reflecting the net amount deposited to your account(s), the payment will be shown on your bank account statement. The statement will indicate the payment date and amount that has been deposited by your employer.
How can I get started on Direct Deposit?
If your employer offers Direct Deposit, all you need to do is provide a written authorization form to your employer. You may be asked to provide a voided check or deposit slip from your bank account. This will provide the company with the appropriate account information needed to start you on Direct Deposit. Keep a copy of the authorization for your records. If your employer does not offer Direct Deposit, we would be happy to discuss the benefits with them.