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Setting up a direct deposit

How to


Set up a direct deposit

 

Direct deposit is a convenient, fast, and secure way to access your money. No need to visit your branch or an ATM to deposit your cheque—with direct deposit you can access your money anywhere, anytime. Find out how East Coast Credit Union can help you set up direct deposit so you too can enjoy quick and easy access to your money. Download fillable and printable form


Why should I sign up for direct deposit?

 

Direct deposit allows institutions to deposit funds straight into your account. Certain employers can automatically deposit your pay cheque into your account using direct deposit.


How do I sign up for direct deposit?

 

To sign up for direct deposit or allow pre-authorized payments, you will need to fill out a direct deposit form with your banking information. Before filling out this form, make sure that you collect all the necessary information, including your financial institution and account numbers.


Required account information

 

Financial institution numbers
The direct deposit form requires the following financial institution numbers:
Route/Transit/Branch number: 70573 Institution number: 839

Account numbers
The direct deposit form requires your 8-digit bank account number. The format for bank account numbers at East Coast CU is a 5-digit member number, followed by a 2-digit account number, followed by a final digit. When providing your 2-digit account number, make sure you are specifying the two digits that correspond to the specific account you wish to use for the direct deposit or pre-authorized payment you are signing up for.


Registering for employer payments

 

Your employer may have their own form, or you can download and use our direct deposit form. Complete your form by referring to the required account information section above. If you have a cheque, you can mark it as “void” and staple it to the form or download a void cheque from your member account. Once you have added your information to the form, sign and submit it to your employer’s human resources department.



Manage your deposited money

 

To verify the direct deposit payments made to your account, you can access your account summary using your landline phone, mobile phone or smartphone, computer, or an ATM. You can also transfer funds, pay bills, and perform other transactions.

If you have any questions about setting up or viewing direct deposit payments, don’t hesitate to contact us.



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