How Direct Deposit Works

Direct deposit is a safe and easy way to get paid. Instead of receiving a paper check, the money goes straight into your bank account through an electronic transfer. To set it up, you’ll need to give your employer Telco's Direct Deposit Form.

Download a Direct Deposit Form for your Employer

• The name of your financial institution
• Your account number
• Your financial institution's routing number

You can also give them a voided check, which has all of that information printed on it. It might take a few days to get started. Once it’s set up, your money is sent electronically and usually lands in your account right at midnight on payday. Because the transfer is automatic and secure, the money is available to use right away—no waiting or check holds. Direct deposit is commonly used for:

• Paychecks Tax refunds
• Retirement payments
• Government benefits like Social Security
• Investment payouts
• Even some bills are paid this way—from one bank account directly to another. For example, if you're getting a tax refund, you can choose to get a check in the mail or have it sent by direct deposit—faster and easier!

To Change Your Social Security Direct Deposit

 You can update your details by contacting the Social Security Administration by phone or visiting a local office. 

By Phone

•    Call the SSA - Contact the Social Security Administration's toll-free number (1-800-772-1213). 

•    Follow instructions - Be prepared to provide your Social Security number and other identifying information to verify your identity. 

•    Complete the process - The representative will guide you through the steps to update your direct deposit details. 

In Person

•    Visit a local office - Find your nearest Social Security office and bring your new bank account information (including a voided check) and a valid ID. 

•    Consult with a representative -  An SSA representative will help you update your direct deposit information.