Sometime we will hear people will say their banking information is confidential, and they cannot give it out for a direct deposit. However, please consider:
- if you have ever written a cheque to someone, you have given out this same information
- many banks and credit unions actually have a form you can can print from your online banking for distribution to set up direct deposit/debits (they wouldn't do this if it was confidential)
- in saying your information is confidential, but then saying "please send us a cheque", you are actually asking for our banking information (which again is not actually confidential)
- when a cheque we issue is negotiated, often your bank information comes back to us on the back of the cheque
- if everyone said their banking information is confidential and wouldn't share it no one could write cheques and there could be no direct deposits and no direct debits.
We encourage direct deposit as it is faster, safer, and more convenient for all parties.