| TOPIC: | Direct Deposit/Electronic Fund Transfer of Payroll Checks |
| EFFECTIVE DATE: | 1 November 2000 |
| UPDATED: |
30 May 2008 |
| Approved By: | B. Reissenweber, VP for Finance |
| Policy Number: | 361 |
POLICY
Aurora University allows and encourages the use of electronic fund transfer of pay directly into a checking and/or savings account.
FORMS
Authorization for Direct Deposit
ELIGIBILITY
All employees may take advantage of this benefit.
PROCEDURE
An employee must complete an "Authorization for Direct Deposit", attach a voided check to the form, sign the form and send to Human Resources.
The first pay after submission of an "Authorization for Direct Deposit" will be a check. The University must first submit a "pre-note" which tests the process to be sure the next check will be deposited correctly. A change in banking institution may cause this benefit to be interrupted for a pay period.
After the pre-note cycle, pay will be deposited automatically to the employee's account(s). A pay "advice" will be distributed on payday. If you prefer to receive your pay advice electronically through WebAdvisor, please contact Human Resources.
The University is not responsible for service fees assessed by a bank when employees make transactions on their account prior to direct deposit monies being credited to their account.
Questions regarding this policy should be directed to Human Resources.
