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Paychecks, reimbursements
to require direct deposit
Since 1991, newly hired permanent employees of the university have automatically participated in direct deposit of payroll checks. Beginning Oct. 1, virtually everyone who receives a paycheck from the university will be switched to direct deposit for pay and reimbursement of business expenses.
The change will include all SPA and EPA employees, as well as post-doctoral associates and fellows, graduate teaching and research assistants, graduate scholarship and fellowship recipients, undergraduate student workers, and temporary employees.
Direct deposit has many advantages for both individuals and the university. No more lost checks, for example, or rushing to cash or deposit checks on payday. You can receive your pay even on a day you’re not at work. And, in banking costs alone, the move will save the university about 72 cents for every check. Each paper check costs about 82 cents to process, while a direct deposit costs only 10 cents. Last year alone, the university issued more than 72,000 paper paychecks.
Human Resources will provide instructions to employees regarding direct deposit. Departments should immediately begin enrolling all new hires in direct deposit. The Direct Deposit Enrollment & Change Form is available online through the HR Forms section. Click on the icon for Direct Deposit Form.
Employees who do not have, or do not designate, a banking account with a financial institution will be provided with a direct-deposit debit account by the university. International students and employees who experience a waiting period for their Social Security number and who may have difficulty opening a bank account will be paid temporarily using paper checks.
Posted June 9, 2006
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