You can direct deposit into a savings account, but your employer needs the routing number and account number from that specific bank
Direct deposit into savings works the same way as direct deposit into checking: your employer's payroll system sends your pay electronically to the bank and account number you provide. The difference is that you're naming a savings account instead of a checking account. Your employer doesn't care which type of account receives the money—they only need the correct routing number (a nine-digit code that identifies your bank) and your account number (usually 8 to 12 digits specific to that account).
The catch is that not all employers allow split deposits or multiple accounts. Some payroll systems are set up to send the full paycheck to one account only. Before you ask your bank for account details, check with your payroll or HR department about whether they support deposits to savings accounts and whether you can split your pay between multiple accounts.
If your employer does support it, the setup takes about five minutes and the deposit usually starts within one or two pay cycles. If they don't, you have other options—but they require a manual step each payday.
Key Takeaways
- You need your savings account's routing number and account number to set up direct deposit, which you can find on a blank check, your bank's website, or by calling the bank.
- Not all employers allow direct deposit to savings accounts or support multiple account deposits, so confirm with your payroll department first.
- If your employer supports it, the deposit typically begins within one or two pay cycles after you submit the new account information.
- If your employer only deposits to checking, you can transfer money from checking to savings manually or set up an automatic transfer after each payday.
How to find your savings account routing and account numbers
Your bank provides both numbers in several places. The easiest is to log into your bank's website or app and look for account details or account information—most banks display both numbers there. You can also call your bank's customer service line and ask for the routing number and the account number for your savings account.
If you have a blank check from your savings account, the routing number is the first nine digits at the bottom left, and your account number follows immediately after. Not all savings accounts come with checks, so don't worry if you don't have one.
Write down both numbers exactly as they appear. A single digit wrong will send your paycheck to the wrong account or cause the deposit to fail.
What to tell your employer or payroll provider
Contact your HR department or payroll administrator and ask to change your direct deposit account. Most companies have a form you fill out online or on paper. The form will ask for:
- The routing number of your bank
- Your savings account number
- The account type (savings)
- Whether this is a new account or a change to an existing one
Some employers also ask whether you want to deposit your entire paycheck or split it between multiple accounts. If splitting is an option and you want part of your pay to go to checking and part to savings, you'll specify the dollar amount or percentage for each account.
Submit the form and ask when the change takes effect. Most payroll systems process changes within a few business days, but the new deposit won't hit your account until the next scheduled payday.
When the deposit will start and what to watch for
Direct deposit changes usually take effect on the next payday after you submit the form, though some employers process changes only on specific dates. Ask your payroll department for the exact date so you're not caught off guard if your check doesn't arrive on the usual day.
On payday, log into your savings account and confirm the deposit landed. If it didn't arrive within one business day of payday, contact your payroll department immediately. Provide them with the date you submitted the form, the account number you provided, and the date you expected the deposit. They can check whether the deposit was sent and where it went.
If the deposit went to the wrong account, your bank can sometimes retrieve it, but the process is slow. It's faster to catch the error on the first payday and have payroll resend it to the correct account.
What to do if your employer doesn't support savings account deposits
Some older payroll systems only allow deposits to one checking account. If that's your situation, you have two options: set up an automatic transfer or move the money manually each payday.
The automatic transfer is simpler. After your paycheck lands in checking, set up a recurring transfer from checking to savings through your bank's website or app. You can schedule it for the day after payday every week, every two weeks, or every month—whatever matches your pay schedule. The transfer is free and usually completes within one business day.
If you prefer to move it manually, you can transfer money from checking to savings the same way, just without the automatic scheduling. This gives you more control but requires you to remember to do it each payday.
Splitting your paycheck between savings and checking
If your employer supports split deposits, you can send part of your paycheck directly to savings and the rest to checking. This is useful if you want to automate your savings without thinking about it.
On the direct deposit form, specify the amount or percentage you want to go to each account. For example, you might send 20% to savings and 80% to checking, or a flat dollar amount like $200 to savings and the rest to checking. The payroll system will split the deposit automatically on each payday.
If you change your mind later, submit a new form to your payroll department with updated amounts. The change takes effect on the next payday after you submit it.
Switching back to checking or changing accounts later
If you want to stop depositing into savings or switch to a different account, submit a new direct deposit form to your payroll department with the new account information. There's no penalty for changing, and the change takes effect on the next payday after submission.
Keep in mind that if you were splitting your deposit between checking and savings, switching back to checking only means your entire paycheck will go to checking unless you specify otherwise on the new form.
Frequently Asked Questions
Can I direct deposit into a savings account at a different bank than my checking account?
Yes. Your employer only needs the routing number and account number—they don't care which bank it is. Make sure you have the correct routing number for the bank where your savings account is, not your checking bank.
What happens if I give my employer the wrong account number?
The deposit will either go to the wrong account or fail entirely. If it goes to the wrong account, contact your payroll department immediately with the correct account number. They can attempt to retrieve the funds, but it's faster to have them resend the deposit to the right account. If the deposit fails, payroll will usually contact you, but check your account on payday to be sure.
How long does it take for a direct deposit change to take effect?
Most payroll systems process changes within a few business days, but the new deposit won't appear until the next scheduled payday. Ask your payroll department for the specific date so you know when to expect it.
Can I split my paycheck between a savings account and a checking account?
Yes, if your employer's payroll system supports it. You'll need to ask your payroll or HR department first. If they do support split deposits, you specify the dollar amount or percentage for each account on the direct deposit form.
Is there a fee to direct deposit into a savings account?
No. Direct deposit is free whether it goes to checking or savings. Your bank may charge a monthly fee for the savings account itself, but that's unrelated to the direct deposit.