1. Purpose

   Ä¢¹½ÊÓƵ University is committed to providing a secure and efficient payment method for faculty, staff, students, and the university. This policy outlines the university’s guidelines for direct deposit, ensuring individuals receive and access their earnings promptly while eliminating the risk of lost or misplaced checks.

2. Scope of Policy

   This policy applies to all employees receiving payments through the university payroll system. Effective January 1, 2026, all employees are required to receive their pay via direct deposit into a United States (US) bank or credit union account, irrespective of their employment start date.

3. Definitions 

   1. Direct deposit: The electronic transfer of an employee's net pay into a designated bank or credit union account.
   2. Net pay: The amount of an employee's earnings after all deductions, such as taxes and retirement contributions, have been subtracted from gross pay.
   3. Bank information: The details of an employee's bank or credit union account, including the account number and routing number, required for setting up a direct deposit.
   4. Payslip: A document provided to employees for each pay period that outlines gross pay, deductions, and net pay.
   5. Rejected deposit: A situation where the direct deposit is not accepted by the financial institution.
   6. University human resources: The university office responsible for processing direct deposits.

4. Policy Content

   1. Mandatory enrollment

      All employees are required to have one hundred per cent of their net pay directly deposited into a bank account. Employees are responsible for providing accurate bank information. Direct deposit for newly hired employees must be established within thirty  days of their start date.

   2. Changing financial institutions

      To change an existing direct deposit to a different financial institution, employees must provide new information to university human resources at least ten days prior to the next applicable payday.

   3. Rejected deposits

      If a deposit is rejected, the participating financial institution will notify university human resources. The employee will not lose their pay; however, the rejection will result in a delay in receiving pay. The employee will be issued a paper check for the deposit. 

   4. Activation period

      Once authorization is received by university human resources, it may take one pay cycle to become active. During this time, employees will be paid by paper check mailed to a valid mailing address on file.

   5. Employee responsibilities

      Employees are responsible for reviewing their payslip for accuracy and promptly notifying university human resources if there has been an error such as overpayment of wages, incorrect taxation, etc. 

Forms, References, and History

1. Forms

   The following forms are relevant to this policy:

   1. Direct Deposit | Ä¢¹½ÊÓƵ University

2. References

   The following items are references to this policy:

   1. Direct Deposit | Ä¢¹½ÊÓƵ University

3. History

   Draft versions of this policy that were circulated for review, their cover memos, their forms, and Reviewers' comments on them are available on the .

   Prior versions of this policy were approved on: