Here in this post, I will guide you step by step on how to transfer EDD funds to Bank of America in 2023
What is EDD?
EDD stands for Employment Development Department. In California, EDD is one of the 3 main departments of government. It oversees the following social programs:
- Unemployment Insurance (UI),
- Disability Insurance (DI),
- and Paid Family Leave (PFL).
It is a division of the Californian government which monitors employment and unemployment rate and maintain balances. The department renders help to jobless people, company owners, and even employees with their services. In other words, EDD gives benefits to all.
The main purpose of EDD is to provide unemployed Californians and their families with employment and reliable financial support.
EDD also collects information, statistics, and employment data on the labor market and uses them in delivering employment service programs to unemployed citizens.
Aside from that, EDD offers a wide range of services to a lot of Californians.
Functions of EDD
The followings are the functions of EDD:
- EDD Administers the Unemployment Insurance (UI) and State Disability Insurance (SDI) programs.
- Gathers all payroll taxes, and maintains records of employment for all Californian workers.
- Acts as an intermediary between job seekers and employers.
- Administers federally funded workforce development programs.
- Collects and analyzes labor market statistics and other viable information. It also publishes the results for people to see.
What Is An EDD Card And What Is It Used For?
Though EDD is owned by the Californian government and for Californians, EDD card is managed and distributed by Bank of America (BofA) to its eligible customers.
The benefits are given to eligible customers, not to their bank accounts but to their EDD cards. It is the responsibility of Bank of America to notify you whenever money is deposited into your EDD card by the government.
The bank notification may delay in coming, for some days. This happens because the BofA has to process your new wealth first. However, rest assured that your money will be ready for withdrawal in less than a week’s time.
The EDD card is just like any normal bank debit card. You can pay for goods and services online and in stores all across the states.
Worthy to note is the fact that there’s no limit to how much you can spend or withdraw from your EDD card. If you want to, you can take everything out at once.
To check whether you qualify to get an EDD card now, visit the EDD wbsite.
EDD Card Requirement
The following documents are required to obtain a new EDD card:
- Details of your Last employer: such as company name, name of supervisor, address, work experience, etc.
- If you’ve worked in more than one company in the last 1 and a half years, you need to provide your employment history.
- This should show details of each of the companies you worked with for those periods. Also, their addresses, dates of employment, reasons for resigning, and other vital information that you think will help in setting up your card quickly.
- If you’re a former federal employee, you will need a Notice to Federal Employees About Unemployment Insurance.
- For military officers, a Copy of your DD 214 Member
- State-issued ID card. Alternatively, you can take a photograph of yourself and upload it online.
How to withdraw your fund
To withdraw your EDD fund, just locate an ATM and use your PIN to withdraw your money
Take your EDD card to the bank and tell the teller that you want to withdraw your fund. S(he) will hand it over to your bank hand or transfer it to your other bank account according to your request.
Transfer EDD funds To Bank of America
Here’s how to transfer funds from your EDD card to Bank of America:
As mentioned earlier, once your money has arrived on your EDD card, you can transfer it to your checking or savings account at Bank of America.
The transfer process is pretty straightforward because it is like sending credit through your regular bank card.
This video explains the process in clear and simple terms
You could transfer your money into your checking account if you have one. Now your bills can be paid from your EDD card, and your other bank cards could as well be recharged.
You may want to create an online account separately for your EDD card, this can be done through the bank of America mobile app.
You don’t need to have an account with Bank of America before or after processing your EDD card. In reality, there’s no need for you to have any bank account before processing an EDD card.
EDD card works as a standalone and independent of any bank account whatsoever.
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