Direct deposit is the electronic equivalent to taking a paper check to your financial institution and having the teller place the funds from the check into your account. Direct deposit sends payments electronically to your specified account at Bayer Heritage Federal Credit Union.
The most common sort of payment that is eligible for direct deposit is your paycheck. Many companies also use direct deposit for interest, dividend, or pension payments. Other forms of payments that are commonly made by direct deposit are annuity and social security benefit payments.
Direct deposit eliminates the hassle of obtaining the paper check, traveling to your financial institution, and standing in line to make the deposit. As an added convenience, direct deposit will make your deposit while you are away from home on business or vacation. If you are employed some distance from your company's headquarters, your payment will no longer be delayed by mail service. Your money is automatically deposited into your account.
In many ways, direct deposit is a much safer method of making a deposit than the traditional paper check. Unlike a traditional check, payments made by direct deposit cannot be lost in the mail or stolen from your office or home.
To set up your Direct Deposit you will need to furnish the following information to the company or institution that is paying you:
Bayer Heritage Federal Credit Union, 17612 Energy Road, Proctor, WV, 26055
Bank ABA# (Routing Transit Number): 243475829
Account Type: specify Savings or Checking
Your Credit Union Account Number: **********
For additional information call Member Services:
1-800-272-6003 x 1477 (or Option 2)