We changed our bank and we are not receiving our money. How do we change our information?

The most important step is to contact the entity that is supposed to be paying you, as they are the ones who control the direct deposit information.

1. Identify the Source of the Money

The steps you take depend entirely on who is making the payment. Is it for your:

• Work/Job Paycheck?
  • You need to contact your employer’s Payroll or Human Resources (HR) department.
• Government Benefits (like Social Security, VA Benefits, Unemployment, etc.)?
  • You need to contact the specific government agency that issues the payment.
• Tax Refund?
  • You need to contact the IRS or your state’s tax agency.

2. Steps to Change Your Direct Deposit

Once you know the source, here are the most common ways to update your bank information:

A. For Your Job’s Paycheck:

• Employee Self-Service Portal: Many employers use online systems (like Workday, ADP, UKG, Paycom, etc.) that allow you to log in and change your bank information yourself. Look for a section like “Direct Deposit,” “Payment Elections,” or “Payroll.”
• Contact HR/Payroll: If there’s no online portal, or you’re having trouble with it, call or email your Human Resources or Payroll department. They will give you a Direct Deposit Authorization Form to fill out with your new bank details.
• Required Information: You will need the following information from your new bank:
  • Bank Name
  • Routing Number (9 digits)
  • Account Number
  • Account Type (Checking or Savings)

Important Note: A change to direct deposit often takes one full pay cycle to go into effect, so the next payment might still go to the old account, or might be issued as a paper check until the new details are verified.

B. For Government Benefits (e.g., Social Security, VA):

• Online Account: Sign in to your online account for that agency (e.g., your My Social Security account or VA.gov profile) and look for an option to update your direct deposit or payment information.
• Call or Visit: You can call the agency’s dedicated phone line or visit a local office to update the information in person.

What to Do About the Missing Money

Since the payment was not received, it’s likely that the funds were sent to your old bank account and were rejected (or “bounced back”) because the account is now closed or non-existent.

1. Contact the Payer Immediately: Inform your employer/agency that the funds were sent to the wrong (old) account. They can confirm the exact date the funds were sent.
2. Wait for the Return: Once the old bank rejects the deposit, the funds are sent back to the payer (your employer or the agency). This can take 2-5 business days or sometimes longer.
3. Confirm Reissue: Once the payer receives the returned funds, they will be able to re-issue the payment to you—usually via a live paper check, as they will wait until your new direct deposit information is confirmed as active.