Direct Deposit of Payroll Payments

Direct deposit benefits both the employee and the University. Benefits to the employee include:

• No lost or stolen checks;
• No unclaimed or un-cashed checks;
• Elimination of long payroll and banking lines and wasted time cashing checks; and
• Assurance that payments will be automatically deposited while on vacation, sick leave or out of town.

Benefits to the University include:

• Reduced processing time and requirements for check reconciliation;
• Elimination of forged, stolen or lost checks;
• Reduced operating costs;
• Improved productivity; and
• Enhanced cash management by increasing predictability of cash flows.