Once if it is confirmed that you are eligible for Pennsylvania Unemployment Compensation after filing claim, your payment can be done in two ways either by depositing to your saving or checking account or by Direct Deposit.
The claimant can receive the payment to his existing savings or checking account. Once the amount is processed you can access the cash with your accessible ATM card.
The second option is Direct Deposit, which is the easiest and most convenient way to get your money transferred. If you are filing a new claim online you can enter your direct deposit information directly on the unemployment insurance application. To apply online you will need to provide the nine-digit bank routing/transit number and the checking/savings account number.
Direct Deposit in Brief
Direct Deposit is the transfer of benefits amount electronically into the qualified claimants savings or checking account. This is transferred by sending you Pennsylvania unemployment insurance benefits to the Federal Reserve and then to claimant’s financial institution.
The benefits of direct deposit
- There are no checks to be lost or stolen.
- Payments reach your account the day the check is issued — even if you are out of town, sick or unable to get to your financial institution.
- Many banks offer free or lower-cost checking for customers with direct deposit because it saves them the cost of processing paper checks.
- Direct deposit can help you avoid bouncing checks because the deposit is direct and on time.
- It can save you trips to the bank and help you avoid long lines at tellers or ATMs.
- The federal government and many employers will deposit your check a day early if the regular payday falls on a holiday.
How to choose the direct deposit as the payment option
In order to choose the direct deposit as the payment option of unemployment insurance benefit while filing your claim you need to follow the below stated steps:
- Enter your Pennsylvania UI Website and login with existing password or create a login id and password by clicking on “Register Now” option
- Remember to verify your Social Security Number and date of birth.
- Select the “Choose Payment Option” generally which will be mentioned in the Main Menu.
- Enter your personal identification number (PIN) and select the option “Change Payment Option to Direct Deposit.
- Enter your bank account information: savings or checking selection, routing number, and account number
- Check the box indicating you understand your payments will be sent to your bank account and submit
How to change the Payment Option
If you have doubt whether you can change the payment option, the answer is yes. You can change the payment option at any time during the time of your benefit year.
Option to change the option:
You need to go to “Choose Payment Option” in the main menu and change the option from Direct Deposit to Debit Card Payment option.
Essential details for Direct Deposit Payment
- Bank name, street address, city, state and Zip Code.
- Bank telephone number
- Bank account number
- Bank account routing number
Identifies your bank or financial institution. Your financial institution’s routing number is the nine-digit number that usually appears on the lower left portion of your personal check. Your savings account typically does not have the routing number listed, so you will need to contact your financial institution for its routing number.
Direct Deposit is the process by which unemployed would be allowed for the payment by his or her paycheck directly to the particular bank account. Remember that Employee authorization must be granted prior to a direct deposit payment. In few states direct deposit is mandatory but if employees do not have bank account then other option would be followed like pay cards.
Direct Deposit method is most supportive process for employee as well as employer as the employee does not want move all around to banks for depositing the paycheck. It is also not required for an employer to wait for the paper Checks and this is known as float. For an employee who works distantly is better to get his payment on his direct account directly on the payday itself without any tensions of mailing or shipping cost.
When could I Expect the Payment over Direct Deposit
You can expect your payment of direct deposit on your chosen account after completion of waiting week of seven days. The payment will be deposited into your savings or checking account two to three business days after each week.