Direct Deposit: Is Direct Deposit Right for You?

The Research Foundation (RF) offers a direct deposit program that allows you to directly deposit your payroll payment into your checking or savings account. You do not need to worry about finding time to deposit your check or to make special arrangements to obtain your paycheck when you are out of town or sick. With direct deposit, your money is deposited into your account on the payroll date. Instead of a pay stub, you will be able to view, via Employee Self Service, online Direct Deposit Statements of Payments and Deductions that document your gross and net pay along with your state and federal withholdings and other deductions.

For your convenience, we've provided the following information on how direct deposit works and what your responsibilities are as a participant:

Enrolling in direct deposit

You are responsible for filling out a new Payment Method-Direct Deposit of Salary form or using Employee Self Service to enroll in direct deposit.

Verifying your bank account number

You are responsible for verifying with your bank the accuracy of the bank account number on your enrollment form and confirming with your bank that your net pay deposit is in your account every pay day.

Making changes to direct deposit

If you change banks or account numbers, or if your bank has any routing or account number changes related to a merger or acquisition, you are responsible for filling out a new Payment Method-Direct Deposit of Salary form or using Employee Self Service to reflect these changes.

Stopping direct deposit

You may stop participating in direct deposit at any time by completing a new Payment Method-Direct Deposit of Salary form or by updating your information in Employee Self Service.

Direct deposit will terminate automatically when you change from one operating location to another.

Closing of Bank Account

You must notify your operating location’s payroll office if your bank account has been closed. You can complete a new Payment Method-Direct Deposit of Salary form or update your information using Employee Self Service.

Problems in direct deposit

You are responsible for payment of any charges incurred against your account as a result of direct deposit.

Your pay may be delayed as the result of an error in direct deposit, so you must notify your operating location payroll office immediately when you become aware of an error.

You are responsible for notifying your operating location’s payroll office if a direct deposit did not occur.

Change History

Date

Summary of Change

August 7, 2015

Updated title and first sentence of document, and to include Employee Self Service.

 

 

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