Funds & Banking

Can I set up direct deposit from payroll?

Customers can setup direct deposit from their payroll, Social Security, pension and other recurring payments from a third party. Direct deposit is limited to US residents, excluding IRAs, Trusts, and organizations, and is limited to USD.

To make a direct deposit:
Contact your employer, federal agency, or any institution that sends your recurring payments and inform them you wish to enroll in direct deposit or make changes to your current direct deposit arrangement.
Some employers or paying institution may allow you to split your direct deposit between multiple accounts. Inquire directly with your employee or paying institution.

To have your Social Security benefits directly deposited to your brokerage account, visit the Social Security website to set up direct deposit online at or call Social Security at 1-800-772-1213.
The IRS allows direct deposit, permitting you to divide your refund among up to three accounts. To have your tax refund deposited into one account, fill out the two lines in the refund section of the IRS Form 1040 or Form 1040A. To have your tax refund deposited to multiple accounts, you will need to complete the IRS "Allocation of Refund Form 8888". Be sure to indicate on the IRS Form 1040 or Form 1040A that you have attached Form 8888.

Detailed information about Direct Deposit is available via Client Portal/Account Management:
Log in to Client Portal/Account Management and navigate to the Transfer & Pay, Direct Deposit menu. Provide the following information to your employer or paying institution (note your payer may have a form it requires you to submit to enroll in direct deposit):Account Holder Name Financial Institution MEXEM's ABA Routing Number Account Number as listed on the "MEXEM Direct Deposit Form" page Account Type

**Note: **It may take up to a couple payment cycles for your direct deposit to become effective.

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