Frequently Asked Questions about Direct Deposit
|
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?
Log into OneStart and under the Services tab, go to the Employee Self Service portlet. Click on Payroll Direct Deposit.
A "Direct Deposit" screen with your name pops up. Click on the HELP button to learn how to set up your direct deposit account(s).
4. I use direct deposit but I need to change my bank and/or account number, how do I do this?
Online Payroll Direct Deposit Changes
- Log into OneStart and under the Services tab, go to the Employee Self Service portlet. Click on Payroll Direct Deposit. This takes you to your direct deposit page.
- 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.
Paper Payroll Direct Deposit Changes
- Fill out a paper Direct Bank Deposit Authorization Form
- Check the box that says "Please change my bank and/or checking or savings account number"
- Attach a voided check or deposit slip to the completed form and mail this to your campus payroll office.
5. I get paid monthly, how long will it take for direct deposit to go into effect?
If the payroll department receives your form before the payroll close for that month, your direct deposit will go into effect that month. If your form is received after the payroll close, your direct deposit will go into effect the following month.
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.
|