Direct Deposit

Direct Deposit – A Safe and Easy Way to Receive Your Benefits

How to Sign Up for Direct Deposit

You can receive your monthly retirement benefit through Direct Deposit by completing the Retiree Authorization for Electronic Deposit of Retirement Checks Form and submitting it to WCERS.

If you are currently receiving a paper check, you can switch to Direct Deposit by following these steps:

  1. Contact WCERS to request the Direct Deposit Authorization Form.

  2. Complete all required fields on the form.

  3. Return the completed form to WCERS.

Once your form is processed, your monthly retirement benefit will be deposited directly into your bank or financial institution account on your scheduled payment date.

Benefits of Direct Deposit

Direct Deposit is the most convenient way to receive your monthly retirement benefit. Your payment is sent electronically and deposited directly into your bank account on your scheduled payment date.

Convenient

Direct Deposit sends your benefit payment straight to your account. You do not need to visit a bank or wait in line to cash a check.

Your money is available on the scheduled payment date, even if you are away from home or on vacation.

If your account earns interest, you will begin earning interest immediately. You will also avoid check-cashing fees.

Reliable

Your payment is deposited automatically each month into the account you choose.

You may use any financial institution in the United States or Puerto Rico, including:

  • Banks

  • Credit unions

  • Brokerage firms

Your payment will be made even if you are traveling or unable to leave home.

Safe

Direct Deposit uses secure electronic transfers.

Your money goes directly to your financial institution without the risk of lost, stolen, or delayed checks.

Easy

To start Direct Deposit, simply complete the Retiree Authorization for Electronic Deposit of Retirement Checks Form and return it to WCERS.

Quick

You may use the WCERS form or one provided by your financial institution.

Once your application is processed, WCERS will send you a confirmation notice. After that, your benefit will be deposited automatically each month.

Free

There is no cost to use Direct Deposit. Some financial institutions may offer additional benefits, such as free checking accounts.

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