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Direct Deposit Information

	What is direct deposit? Why should I participate? Where can I deposit my pay? What will be deposited? How can I arrange to redistribute funds to other types of accounts? How does my bank know that I am participating? When is the first deposit sent to my bank? When should I notify Payroll? Additional information relating to direct deposit changes.

Q.	What is direct deposit?
A.	The Direct Deposit Authorization lets your employer Electronically Transfer Funds (deposit your net pay each payday) into your personal checking or statement savings account. If you participate in this plan, you will receive a non-negotiable form which contains all the information printed on your paystub today. The amount of your net pay appears under "DEPOSITED" and the account number to which the deposit was made appears on the ADVICE OF DEPOSIT. The date on the non-negotiable (Advice of Deposit) reflects the date of deposit.

Q.	Why should I participate?
A.	Ease and Convenience - Direct Deposit insures that participating employees receive their pay on payday even when out of the office. Your money is available in your checking or statement savings account on payday without having to make a deposit in person. Direct Deposit safeguards against theft, loss, and forgery.

Q.	Where can I deposit my pay?
A.	You can deposit your net pay in your personal checking or statement savings account as long as your bank is a participating member of the National Automated Clearing House Association (NACHA). Most banks, savings and loan associations, and credit unions participate.

Q.	What will be deposited?
A.	Your gross pay and deductions will be calculated exactly the same way. Your net pay will be deposited.

Q.	How can I arrange to redistribute funds to other types of accounts?
A.	See your bank representative if you'd like to have funds redistributed to other types of acounts in your bank.

Q.	How does my bank know that I am participating?
A.	Before your net pay is automatically deposited, Central Payroll will send two pre-notifications to your bank. This normally takes four weeks after you sign up for Direct Deposit. The same pre-notification process is required after you are in the plan and decide to change your bank and/or account number, or if you are off the payroll for more than one year.

Q.	When is the first deposit sent to my bank?
A.	When enrolling your first deposit will be made six weeks after your enrollment in the program. When changing accounts two full payroll cycles will be skipped to permit the required pre-notification to be made. On those paydays you will receive a check.

Q.	When should I notify Payroll?
A.	If you changed banks and/or account numbers or if you wish to cancel, you must complete a new authorization and submit it to agency payroll personnel immediately. If you fail to notify payroll when you close your account, all funds already submitted to the bank wil not become available until such funds are returned to the State by the bank. In the event of your retirement, resignation, or termination, your final payout will be in the form of a check. These funds will not be automatically deposited in your account.

Q.	Additional information relating to direct deposit changes.
A.	DO NOT close, cancel or change your existing bank account without first completing a new Direct Deposit Authorization Agreement or consulting with the UConn Payroll Department, 486-2423. If you make a change to your existing Direct Deposit it will cause you to receive an actual pay check for two pay periods before the deposit to the new bank or account takes effect. If you are paid from more than one of the seven University payrolls (HF, HG, HH, HI, HJ, HK, HL found on your UConn payroll check stub), a separate Direct Deposit Authorization Agreement is required for each payroll to be direct deposited.

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