Teller

Depositing and withdrawing money at the bank itself is as simple as walking to the local branch and asking the teller for a withdrawal or deposit slip. In each case, know the account number and be ready to show ID.

Direct Deposit

By providing a bank, account number, and routing number to the payer, funds can be electronically placed into the receiver’s account. These funds are cleared through an automated network and available immediately, which is why it is one of the most popular forms of payment from employers.

Example Direct Deposit Form

Wire Transfer

Wire transfers use secure network systems to execute large or faraway single payments. The sender fills out a wire request form verifying their account (including ID) and the location, address, and identity of the receiving account. Once the wire is paid for, the sending bank essentially tells the receiving bank to use its reserves to deposit funds into the receiving account. This way the funds are transferred quickly, and the sending bank pays the receiving bank later.

Example Wire Transfer Form

Check

Checks represent transactions that will be put into motion once given to a bank. Typically ordered from the bank, checks are connected an account and come pre-filled with the name, account number, and a routing number to identify the bank. To pay using check, the payer must fill out the name of the receiver, the amount of money for the transaction, and give a signature. When the check is cashed by the payee, the funds will be transferred from the payor’s connected account and to wherever the receiver directs it.

ATM Card

Debit Card

When a checking account is opened, banks offer debit cards with PIN numbers connected to the account. As with checks, when debit cards are used for purchases the funds come directly from the connected account. Debit cards can also be used on ATMs.