Banks and companies in general, are rarely officially called by the same name as we know them by. In the case of Chase Bank, that is obviously true as well.
Don’t know what bank name to fill out in a Chase Bank direct deposit form? Here’s the short answer.
Chase Bank’s full and official name is “JPMorgan Chase Bank, N.A.” However, even more important than the bank’s name are the routing and account numbers that should be filled out without any mistakes.
What’s The Chase Bank Name for Direct Deposit
When you have to fill out the form for direct deposit, Chase Bank, or Chase as we informally know the bank by, isn’t the correct name to put down. Instead, the bank goes by JPMorgan Chase Bank, N.A.
If you’re wondering where the JPMorgan part of the name comes from, you’re not alone. You see, the bank was only known as Chase Manhattan Bank until the year 2000 when the bank merged with J.P. Morgan & Co.
However, Chase’s mergers didn’t start in 2000. The bank became known as Chase Manhattan Bank in 1955 after the Chase National Bank and the Manhattan Company merged together.
The bank had another merger with Bank One Corporation in 2004. But even JPMorgan Chase Bank, N.A has a parent company. Its name is JPMorgan Chase & Co. and has more than 200,000 employees worldwide. It also operates in more than 100 countries.
Chase Bank is one of the Big Four banks in the United States, together with the Bank of America, Citigroup, and Wells Fargo.
READ ALSO: Chime Vs. Chase (How They Are Different)
How to Setup Direct Deposit
Setting up direct deposits with Chase is easy and can be done in two ways. The first one is the more straightforward one because everything is pre-filled for you.
The second way requires that you download the PDF form and fill it out yourself.
To have a direct deposit form pre-filled for you:
- Sign in to chase.com or open the Chase app
- Choose a checking account where to receive your direct deposit
- By scrolling up in the mobile app or in the drop down menu on chase.com, go to ‘Account Services’
- Tap on ‘Set up direct deposit form’
- Download, print, or email the pre-filled direct deposit form
- Send or give it to your employer
If you want to complete the direct deposit form yourself, simply:
- Download the PDF form
- Fill in all the bank and personal information
- Give the finished form to your employer
To find your routing and account number you need to log in to the Chase app and choose your account. From there, select “’Show details” and see your account and routing numbers.
What Information Needs to be Provided
Filling out direct deposit forms is easy and has to include the following information:
- Your name and address
- Your employer or depositor’s name
- Your Employee ID or account number with depositor
- Your checking account number, or
- Your Savings/MIA/Money market account number
- Bank’s routing number
What’s The Difference Between The Bank Routing Number And Account Number?
To set up direct deposits, you’ll need your routing and account numbers. But what exactly are they and what do they do? In plain words, they help appoint a connection between your own bank and an external bank in order to transfer funds between the two.
Both your bank routing number and account number are crucial in ensuring that the funds are deposited or withdrawn to and from the right account.
Routing numbers reveal what bank your account is maintained in and account numbers are your individual and unique identifiers at that bank.
Each account that you have in a bank gets its own unique account number. Checking and savings accounts at the same bank would have different account numbers, but they would have only one routing number.
When do You Need The Routing Number?
Your bank’s routing number is an important piece of information that you will need in many situations such as:
- To set up direct deposit
- To receive a direct deposit from your government benefits, tax refund, and stimulus check
- To send or receive a wire transfer
- To pay bills online
- To send and receive electronic payments through mobile apps
When Does The Direct Deposit Kick-In?
You’d think that because everything is done electronically these days, direct deposits would start working from your next paycheck, however, that is often not the case.
In general, direct deposits take effect in up to two pay cycles. Because it mostly depends on your employer or payer, you have to check with them as to what the usual times for executing direct deposits are.
When Are Chase Direct Deposits Available?
For that reason, Chase has recently initiated changes that allow their customers to also get their direct deposits up to two days early.
However, this might not work yet for all their customers and it also heavily depends on your employer or payer as well.
The name that you should be using when setting up direct deposits is “JPMorgan Chase Bank, N.A.” instead of simply Chase or Chase Bank.
However, even more important than the bank’s correct name are the routing and account numbers that are actually used for money transfers.