Direct Deposit is the electronic transfer of a payment into your account. The payment can be divided among several different accounts and, in many cases, between different financial institutions.
Payroll Deduction is the most popular application of Direct Deposit. You initiate Payroll Deduction with your employer by giving them your Bank of Old Monroe routing number, EFT account number, and an indication of whether you want all or a portion of your paycheck deposited.
Direct Deposit can also be used for many other types of payments, including:
- Tax refunds
- Social Security or other government payments
- Annuity payments
- Bonuses and commissions
- Dividend and interest payments
- Pension distributions
- Travel expense reimbursements
- Vendor payments
- View a demo on how Direct Deposit works at electronicpayments.org
Direct Deposit Instructions:
- Print Direct Deposit Form
- Fill in the blanks with the information below for the Bank of Old Monroe account to receive the deposit.
- Give this completed page to the company or organization initiating the payment.
- Routing Number: 081011461
- Account Number (your EFT account number must be 10 digits long):
Note: The numbers on the bottom of a personal check will be identical to the numbers above for your checking account, so to direct deposit into your checking account, you may use a voided check instead of this form.
If you need assistance, we would be happy to help you set up your direct deposit. Please call 636-665-5601.
*EFT = Electronic Funds Transfer