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AUTHORIZATION FOR DIRECT DEPOSIT OF MONTHLY BENEFIT VIRGINIA RETIREMENT SYSTEM P.O. Box 2500 Richmond, Virginia 23218-2500 Toll Free 1-888-VARETIR (827-3847) Fax 1-804-786-9718 www.varetire.org 1.
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What is authorization for direct deposit?
Authorization for direct deposit is a process where an individual or business gives permission to deposit funds electronically into their bank account, instead of receiving a paper check.
Who is required to file authorization for direct deposit?
Individuals or businesses who want to receive payments electronically instead of paper checks are required to file authorization for direct deposit.
How to fill out authorization for direct deposit?
To fill out authorization for direct deposit, you need to provide your banking information, such as bank account number and routing number, and complete any required forms or documents provided by the payer.
What is the purpose of authorization for direct deposit?
The purpose of authorization for direct deposit is to facilitate faster, more convenient, and secure payment processing for individuals or businesses.
What information must be reported on authorization for direct deposit?
The information that must be reported on authorization for direct deposit includes the individual's or business's bank account number, routing number, and any additional information required by the payer.
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