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Citibank Direct Deposit Sample
Direct Deposit
This form puts Direct Deposits in their place. Right into your new account.
Use this form to request a direct deposit of regular payments from your employer, a pension or retirement payment, Social Security, or from just about anywhere else, into your Citibank® account. With Direct Deposit, you won’t ever have to worry about lost or stolen checks and, as soon as a check is deposited into your Citibank account, it’s avail- able to you as cash.*
Follow these easy steps:
1.Attach a personal check from your new Citibank account with the word
“VOID” written in large letters in ink across the front. Do not sign the check.
Note: Checks are not available for the Access Account Package. Your employer may need to verify electronically.
2.Sign and date the form.
3.Submit to your employer or other fund originator.
HELPFUL INFO
EMPLOYEE NAME (PLEASE PRINT):
• TRACK YOUR
EMPLOYEE ID OR SOCIAL SECURITY NUMBER:
EMPLOYEE WORK PHONE NUMBER:
I wish to deposit to my Citibank account: (CHECK ONE)
ENTIRE NET PAY ı__________ % OF NET PAY |
ı SPECIFIC AMOUNT: $ ________________.OO |
ACCOUNT NUMBER:
ı CHECKING ACCOUNT |
ı MONEY MARKET ACCOUNT |
ı SAVINGS ACCOUNT |
BRANCH ADDRESS:
CITY, STATE, ZIP CODE:
CITIBANK ABA ROUTING NUMBER:
REQUEST
To confirm that your check is being deposited into your Citibank account, go to www.citibankonline.com, check your statement or call
•PLAY IT SAFE Direct deposit should take effect within three deposit periods — if you don’t see it by then, contact your employer. Keep your old account open until all direct deposits have been switched to your new Citibank account.
I authorize
EMPLOYER OR FUND ORIGINATOR
to initiate credit entries and, if necessary, to initiate any debit entries and adjustments to correct any erroneous credit entries to my account at Citibank.
SIGNATURE:
DATE:
I understand that this authorization will remain in full force and effect until the company named here has received written notification from me of its termination in such time as to afford the company and depository a reasonable opportunity to act.
*This authorization form is valid only to initiate a direct deposit of funds to a Citibank account. Participation in direct deposit is contingent upon your employer or fund originator offering the service and your eligibility to participate.
Note that some organizations or companies (like Social Security) may require you to use a special form. Contact your employer or income source to make sure no other forms are required.
How to find your Citibank routing number
Your routing number is located on the bottom left side of your check. It will be the first 9 digits listed as shown in the sample below. If you do not have a check you may obtain your routing number from a Branch Representative, at www.citibankonline.com or call
Note: This authorization form is valid only to initiate a direct deposit of funds to a Citibank account.
© 2017 Citibank. Citibank, N.A. Member FDIC. Citibank and Citibank with Arc Design are registered service marks of Citigroup Inc.
Instructions on Utilizing Citibank Direct Deposit
Once you have the Citibank Direct Deposit form in hand, you can start filling it out. This process is straightforward and ensures that your payments go directly into your bank account. Follow the steps below to complete the form accurately.
- Begin by entering your personal information. This includes your full name, address, and phone number.
- Next, provide your Social Security Number or Tax Identification Number. Make sure to double-check this information for accuracy.
- In the designated section, write down your bank account number. This is crucial for ensuring that your funds are deposited into the correct account.
- Indicate the type of account you have. Typically, this will be either a checking or savings account.
- Fill in the routing number for your bank. This number is usually found on your checks or can be obtained from your bank.
- Review all the information you’ve entered. Ensure that everything is correct and clearly written.
- Finally, sign and date the form at the bottom. Your signature authorizes the direct deposit.
After completing the form, submit it to your employer or the relevant department. They will process your request and set up your direct deposit accordingly.
Misconceptions
Understanding the Citibank Direct Deposit form is crucial for ensuring timely and accurate deposits. However, several misconceptions can lead to confusion. Here are four common misunderstandings:
- Direct deposit is only for payroll. Many people believe that direct deposit can only be used for salary payments. In reality, it can also be used for government benefits, tax refunds, and other types of recurring payments.
- Once set up, direct deposit requires no further action. Some individuals think that once they complete the form, they will never need to make changes. However, if you change banks or accounts, you must submit a new form to ensure deposits go to the correct place.
- The process is instantaneous. There is a misconception that direct deposit takes effect immediately. In truth, it may take one or two pay cycles for the changes to be fully processed and reflected in your account.
- Only employees can use direct deposit. Another common belief is that only employees of a company can set up direct deposit. This is not true; anyone receiving payments, such as freelancers or retirees, can also utilize this service.
By addressing these misconceptions, individuals can better navigate the direct deposit process and ensure their funds are deposited correctly and efficiently.
Documents used along the form
When setting up direct deposit with Citibank, several other forms and documents may be required to ensure a smooth process. These documents help verify your identity, provide necessary account information, and confirm your employment status. Below is a list of commonly used forms that you may encounter alongside the Citibank Direct Deposit form.
- W-4 Form: This form is used by employees to indicate their tax situation to their employer. It helps determine the amount of federal income tax to withhold from your paycheck.
- Payroll Authorization Form: This document authorizes your employer to deposit your salary directly into your bank account. It may require your signature and account details.
- Durable Power of Attorney: It's crucial to have a Durable Power of Attorney in place, as it allows a designated individual to manage financial decisions on your behalf, ensuring your interests are protected if you become incapacitated.
- Account Verification Letter: Some banks provide this letter to confirm your account details. It usually includes your name, account number, and routing number.
- Employment Verification Form: This form is often requested by banks to confirm your employment status and salary. It may need to be completed by your employer.
- Change of Address Form: If you have recently moved, this form updates your address with your employer and ensures that all documents are sent to the correct location.
- Bank Statement: A recent bank statement may be required to verify your account information. It provides proof of account ownership and activity.
- Identification Documents: A government-issued ID, such as a driver’s license or passport, may be needed to verify your identity when setting up direct deposit.
- Direct Deposit Agreement: This agreement outlines the terms and conditions of the direct deposit arrangement. It usually requires both your signature and your employer’s approval.
- Form 1099: For independent contractors or freelancers, this form reports income earned and may be relevant for tax purposes when setting up direct deposit.
Having these documents ready can facilitate the direct deposit setup process with Citibank. Ensure that all information is accurate and complete to avoid any delays in receiving your funds.