One more thing I'd like to ask for receiving benefits. What will be the process in case I don't have an account?
You must open an account before you can sign up for Direct Deposit. You should compare prices in your area to find an account that has the features you want at a price you can afford.
About Direct Deposit benefit, Is it wise to let the representative at my financial institution know ahead of time?
Yes, that is a great choice to let the representative know ahead of time.