Monday, February 3, 2014 - 5:20 AMChase Manhattan Bank
when opening a chase checking account, what is considered a direct deposit ? Is it just received funds from employment or would anything else count as direct deposit ?
1 posts since
Feb 3, 2014
Rep Points: 4
3. Monday, February 3, 2014 - 11:29 AM
I was always under the impression that Direct Deposits are not just one time deposits. They are usually things you would get regularly like Social Security benefits, paychecks, CD interest etc. An ACH would just be a one time deposit and not an on-going deposit. Chase is my bank and all of my Direct Deposits are usually regular monthly deposits from different sources.
BTW: This is what Chase states in their Disclosure Booklet about it:
"Direct deposit”: With “direct deposit,” someone, such as an employer or the government, sends your
funds directly into your account through the ACH electronic payment system."
1,406 posts since
Aug 10, 2011
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