With direct deposit, your money is sent automatically to your account at your bank, credit union or savings and loan. It's available to you on your regular payment date, and you don't have to worry about your check being stolen, lost or misplaced. Even if you're out of town, sick or too busy to make it to your bank, credit union or savings and loan, your money is still deposited into your account. If you don't have a checking or savings account, you can wait. Look for more information later in 1998 about a new low-cost account that may be the best choice for you.
Most financial institutions offer a variety of accounts, some with little or no fees.
Look for one that meets your needs. If you already have a checking or savings account, you can choose the convenience of Direct Deposit. Just ask your bank, credit union or savings and loan to sign you up. Direct Deposit should be available at no additional cost to you. If Direct Deposit would cause difficulty for you, you can continue to receive your money by check.