Direct deposit is a safe and easy way to have your student employment earnings deposited directly into your checking or savings account. When you use direct deposit, you allow our office to electronically transfer a fixed dollar amount or net earnings into your bank account. There are several advantages to direct deposit:
- It’s convenient. You don’t have to wait in line at the Fee Collection Center or your bank.
- It’s safe. No more lost, stolen, or misplaced checks.
- It’s reliable.Your money is automatically deposited to your bank’s checking or savings account.
- It saves time. No more rushing to the bank. Your money is already there each payday.
- You can still have access to your paycheck even when you are out of town or sick.
- It helps you manage your money. You can have your paycheck deposited directly into one or two accounts (such as a savings and a checking account), thus helping you set up a savings plan.
Signing up for direct deposit is easy. Complete the Direct Deposit of Payroll Authorization Form, and return it to our office along with verification of your account.A voided check is needed for deposits to your checking account.For deposits to your savings account, you must bring your savings account card to our office.
Once your paperwork is processed, a pre-notification will be sent to your bank on the first payroll to verify that all bank routing and encoding numbers are correct. This means that, after you have signed up for direct deposit, you will have to pick up your first paycheck at the Fee Collection Center. If all bank routing and encoding numbers are correct, your next paycheck will be deposited directly into your banking account.
In the event any of your account information changes, you may not be paid on the appropriate day since we will not be able to immediately release the funds. It is your responsibility to notify us when your account information changes.
Direct deposits may also be made to your Colonel Card. You may make a one time deposit or have all or a portion of your check continuously deposited onto your card. Contact our office for more information on this process.