We have arranged to make DIRECT DEPOSIT OF PAY available to you as an employee benefit. And, there's no cost - just convenience.
With DIRECT DEPOSIT OF PAY , your money will be in your account on payday and immediately available. So, you can go right ahead and write those checks on payday to pay bills or get cash as you normally would.
When you sign up for DIRECT DEPOSIT OF PAY , you authorize the Payroll Department to deposit all or part of your pay automatically to your checking/savings account. On payday, instead of a check, you receive a pay advice that shows your gross pay, deductions, net pay, etc. The pay advice is your notice of deposit.
Paydays and Fridays never seem to come around often enough, and yet, on payday there is often some inconvenience associated with getting your check cash or deposited.
With DIRECT DEPOSIT OF PAY , those payday inconveniences are gone.
For each pay period, instead of printing checks, we will produce a computer tape containing a record for each participating employee. The tape 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 to your account on payday.
There is a four-transaction limit with DIRECT DEPOSIT OF PAY .