1. How does direct deposit work?

For each pay period, we produce a computer file containing a record for each participating faculty and staff member. The record identifies your net deposit amount, your financial institution and account number.

We deliver this computer tape to our financial institution which, in turn, enters it into the Automated Clearing House(ACH) system. There the deposits are sorted and electronically forwarded to your financial institution for credit directly to your account on payday.

2. What does it cost?

It's free. Today, thousands of employers are making DIRECT BANK DEPOSIT available as a service to their employees. The Federal government recommends it for social security payments, and many companies deposit interest or dividend payments automatically.

3. How do I set up direct deposit for my paycheck?

Go to the Direct Bank Deposit page at http://www.fms.indiana.edu/payroll/direct_bank_deposit.asp for information and to fill out the Direct Bank Deposit Authorization Form.

4. I use direct deposit but I need to change my bank and/or account number, how do I do this? Log into OneStart and under the Services tab, click on Employee Center button. This takes you to the Employee Center screen where you will see Direct Deposit as the first item or link under Payroll Information depending on whether the show/hide Payroll Data button is set to show or hide.

1. If the button is set on show, the defaultsetting, you can edit your Direct Deposit Set-up in the Payroll Information window.
2. If it is set to hide, click on the Direct Deposit link and your Direct Deposit page appears with your name on the second line. If you are new to direct deposit, you will see field names but no information will be in the lines below. To set up your direct deposit, click on HELP which takes you to the Direct Deposit Online page. Click on the Change DD button at the top. This takes you to instructions on setting up and customizing your payroll direct deposit.

6. I get paid bi-weekly, how long will it take for direct deposit to go into effect?

If the payroll department receives your form before the payroll close for the current pay period, your direct deposit will go into effect that period. If your form is received after the payroll close, your direct deposit will go into effect the following pay period.

Indiana University automatically issues paycards to employees who have not signed up for direct deposit after their second paycheck. This affects both current employees who have not enrolled in direct deposit and new hires. All faculty and staff who have not enrolled in direct deposit no longer receive a paper paycheck mailed to their homes. Instead, they will have the choice of enrolling in direct deposit or receiving a Visa paycard. The paycard will be issued and held in the campus payroll office to be picked up by either the employee or departmental Fiscal Officer. Be prepared to present a picture ID. The paycard can be used at any ATM to withdraw cash or at any vendor who accepts PIN based transactions. Employees can also withdraw all their funds at any US bank that accepts Visa. Those employees who do have bank accounts can transfer funds from the debit card directly to their bank account online. You can learn more about the paycard at http://www.rapid-paycard.com/cardholders.asp.