If you don't already know, direct deposit is a method of payment where money is electronically transferred into your bank account, getting rid of the need for paper cheques. It's typically used for paycheques, tax refunds and government benefits.

When you use direct deposit, your money is immediately available in your account, which makes it a convenient option.

How to set up direct deposit

When starting a new job, your employer might ask you for your direct deposit information or a void cheque. You could give them a paper cheque with the word VOID written across it but, since paper cheques aren't as common these days, we've got a better solution for you.

If you already use Servus online banking, you simply need to log in and navigate to the 'Accounts' tab at the top. From there you'll select 'Void cheque/direct deposit form' where you'll be able to choose the account you'd like to have your pay deposited into. Finally, save the void cheque as a pdf and provide it to your employer. To make things even easier, the button below will take you to the right spot in online banking.

Get my direct deposit info

Haven’t used online banking yet? You can find the steps to sign up here or visit a Servus branch where they can set you up with online banking and your direct deposit details all at once.

More smart and simple money management tips

We've already mentioned that direct deposit is a convenient option for receiving payments. Once you learn your new employer's payment cycle, you'll know exactly when you can expect your latest paycheque in your account. This means you can set up other conveniences like automatic payments for your bills, pre-authorized contributions (PACs) into savings accounts and start a strong budgeting habit.

And as always, the more you bank with us, the more Profit Share^® Rewards cash you'll earn.