When an FI accepts the first direct deposit payment, it establishes an agreement to
honor the direct deposit request and is responsible and liable for the payments on
a continuous basis. Although it is rare, the FI can cancel this agreement by providing
the beneficiary, recipient or representative payee with written notice.
The payment will continue to go to the FI until the beneficiary, recipient or representative
payee notifies us to cancel direct deposit or post new direct deposit information
to the record.
NOTE: The FI returns payments to us when they no longer honor the agreement.