Direct Deposit
1. What is Direct Deposit?
Direct deposit is a benefit that offers you the opportunity to have your
net pay (pay after taxes and other deductions) deposited directly into your
checking account.
2. Who can have Direct Deposit?
All University employees paid through Central Payroll Bureau can
participate in the direct deposit option.
3. How does Direct Deposit work?
On paydays, your net pay is deposited into your account by electronic
funds transfer based on the information provided by Central Payroll Bureau
to your bank through the State Treasurer's Office. You don't have to be in
your office to pick up your check, wait in line on payday to deposit your
check, or make special arrangements when you are on vacation or traveling on
business.
4.How do I know how much I've been paid?
You will get an employee's earnings statement (pay stub), which shows your
hours, earnings, and taxes and deductions just like a regular paycheck.
Instead of being attached to a check, the earnings statement is attached to
a deposit advice, which tells you which bank and account number you
designated to receive the Direct Deposit.
5. Must I use a particular bank?
You may have your pay deposited to the financial institution of your
choice. While you may designate only a single "checking" account for your
net pay, most financial institutions will distribute your net pay from a
single checking account into one or more other accounts, such as savings,
IRA, or loan payment.
6. How do I sign up for Direct Deposit?
To sign up for Direct Deposit, visit the University Payroll Office or
Human Resources Office for an authorization form. Fill it out and return it
to the Payroll Office.
7. How soon after enrollment does direct deposit start?
It takes up to 60 days for Direct Deposit of your payroll check to begin.
Central Payroll Bureau goes through a process called "prenotification" to
ensure that your financial institution is part of the system and that your
account number is properly recognized.
8. What if I want to make a change?
A new authorization form is required to make any changes to your direct
deposit information. If you want to change the bank and checking
account to which your net salary is deposited, check the "Change" block and
have the new financial institution enter the new bank's transit number and
your account number and countersign it. This must be done even if you
are remaining with the same bank but changing account numbers. Submit
the new authorization form to the University Payroll Office. The
Direct Deposit to your old bank will stop within 21 days after Central
Payroll Bureau receives your new authorization form. The Direct
Deposit to your new bank and account will start within 60 days. In the
interim you will receive paychecks.
9. What if I want to cancel Direct Deposit and receive paychecks?
File a new authorization form, checking the "Discontinue Direct Deposit"
box. Submit the new authorization form to the University Payroll
office. The direct deposit to your old bank will stop within 21 days
after Central Payroll receives your new authorization form. You will then
receive payroll checks.
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