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.
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