You also have the option of putting a specific amount of money in your account. So for flat amount, you can just type in how much you want and for a percent amount you can put in a percentage. For example.. if you chose flat amount (and lets say you make $100), you can put in $50 if you want $50 to go to your checking and the other $50 to go to another account (savings or another checking). Percentage works the same way but in percentages. Available balance is just put the entire $100 in the account.
You can also just type in 100% on the percent amount if you want the entire $100 in the account. It's the same thing as available balance.
They need to know which account and what type it is for routing the money. Some banks assign the same account number to checking and savings. If you don't have or don't want the money to go to a debit card, then just don't mark that.
From the Amount questions, it appears you are trying to set up a credit card account automatic payment? So they need to know whether you are authorizing them to take out the same amount each month, a set percentage of the amount due, or pay off the entire balance. If you always pay off the card each month, then select available balance. But the safest thing to do is set a flat amount so you always know how much is definitely going to be taken out, then if you want to pay more you can make an additional payment on your own. You can always go back and change the amount later on the automatic debit.
Okay this section of the direct deposit form is asking my 2 questions that I do not know.
Account type: Checking, savings, and debit card. Why is there a difference between checking and debit card?
And
Amount*
Flat Amount _________
Percent Amount _________
Available Balance (There is nothing to fill out if you just select available balance)
What do I choose on these?
