Get the free Direct Deposit Authorization

This form is used to authorize the New Mexico Public Employees Retirement Association (PERA) to make credit and debit entries to a designated financial institution account for the purpose of receiving retirement benefit payments. It requires the completion of personal and financial institution information, as well as authorization and signature from the applicant.

How to fill out direct deposit authorization

How to fill out direct deposit authorization

1. Obtain a direct deposit authorization form from your employer or financial institution.
2. Fill in your personal information, including your name, address, and social security number.
3. Provide your bank's information, including bank name, account number, and routing number.
4. Indicate the type of account (checking or savings) you wish to use for direct deposit.
5. Sign and date the form to authorize the request.
6. Submit the completed form to your employer or the relevant financial institution.

Who needs direct deposit authorization?

1. Employees receiving wages or salary payments.
2. Individuals receiving government benefits or pensions.
3. Contractors who are paid electronically.
4. Anyone wanting to receive payments without the need for checks.

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What is direct deposit authorization?

Direct deposit authorization is a document that allows an individual to permit their employer or financial institution to deposit their wages, benefits, or payments directly into their bank account electronically, instead of receiving a physical check.

Who is required to file direct deposit authorization?

Employees who wish to receive their paychecks electronically are typically required to file direct deposit authorization with their employer. This can also apply to individuals receiving government benefits or any other payments made through direct deposit.

How to fill out direct deposit authorization?

To fill out a direct deposit authorization form, provide your personal information, such as your name and address, along with your bank account details, including the account number and the bank's routing number. You may also need to sign and date the form to authorize the deposit.

What is the purpose of direct deposit authorization?

The purpose of direct deposit authorization is to streamline the payment process, ensuring that funds are transferred directly to the recipient's bank account, which can reduce the risk of lost or stolen checks and provide quicker access to funds.

What information must be reported on direct deposit authorization?

Direct deposit authorization typically requires personal information such as the individual's name, address, Social Security number, bank account number, routing number, and the type of account (checking or savings).