One question for you guys

Tip I would say no, but can't verify it. Most cases like that would need a permission from account holder. I used to have direct deposit when I was OTR so my family would have money when I was out. Money is deposited, but I doubt that any balance is shown.

 

Direct deposit is a one way transaction the only thing the company gets is a confirmation from the bank that it was sucessful,they dont even need your bank name becouse the info they send goes into a clearing house and is then sent to your bank,everything is electronic.

 

I worked in a bank, and we have direct deposit now.

1)As a teller, we do not have access to who, or where the money from direct deposit comes from, the person holding the account can call the main number and someone there can give them that info.
2)When a company sets up a direct deposit, you have to give them your account # to deposit into and your routing #(tells what banking branch,state,town, and actual area your account was set up in) - both are on the bottom of your checks, deposit slips, savings acct. slips, so they do have that information. BUT, if they were to try and get personnal information, like account balances, that rest on the bank - anyone can call on the phone and say that they are soandso, but the bank should have some set of security in place. At the bank I worked in, we had security names or numbers for clients, so when they called, even if we knew their voice, we where not allowed to give out any information without that code, otherwise, the client could file a complaint and we'd get fired and they could sue for "breech of confidentiality"

To say a company can't get information is wrong, a person inside that company that is under handed and has no morals - can get and use the information if they really wanted to - most company's only the payroll supervisor has access to the information, but in some, the information you gave to set up direct deposit is in your personnel file, or the company my husband works for, set up direct, made sure the first deposit went to the right place, and then sent us back the cancelled deposit slip. Also, if you set up direct - never give them your check - always a deposit slip.

This is another reason you should always look at your bank statements and make sure everything is right!!

 

Why not a check? I know that some companies require a voided check.
Is there a difference between the check and deposit slips I know that the deposit slips have a different routing number on them but that is all I know.

 

Just another "safety" suggestion - they have basically the same informatin on them, but if your worried about theft, a deposit slip, even a duplicated one, can only be used for depositing purposes. You can't take a deposit slip to a bank and get informatin on that account with it.

 

One thing to remember, a lot of people are worried about online transactions and DD's. Your personal bank does it with your account anyway. Almost everything now is done that way. Most places won't even take a check. If they do they hand it back to you once they make the transaction.