Direct Deposit Questions – University Comptroller (2024)
What is Direct Deposit and what are the benefits?
USC electronically deposits your pay directly into your account(s) by payday.
Direct Deposit is safe, simple, and convenient.
No waiting in line at the bank or ATM.
No more worries about mail delays, lost checks, or missing a check when you’re out of the office on payday.
You can elect Direct Deposit to many different accounts and/or banks.
Many banks and other financial institutions offer incentives for using Direct Deposit.
When are funds from Direct Deposit available?
Your funds are immediately available in your chosen account(s) each pay day in the early morning.
What are my Direct Deposit options?
You can send all your net pay to one financial institution or split it by percentage between multiple institutions. You can also elect to send a flat dollar amount to one or more financial institutions, and you can elect to have part of it deposited and receive the rest on a paper check.
How do I sign up for or make changes to my Direct Deposit?
If you cannot access Workday, please reach out to Payroll Services at payroll@usc.edu for assistance.
You can set up a Direct Deposit account by inputting the information online in Workday using this guide.
How soon after I sign up will my pay be direct deposited?
To verify newly added bank accounts, University Payroll Services pre-notes the information you’ve submitted. It will take 7-10 business days to validate the account information. Your next payment may be made via paper check while your bank information is verified. If we receive a rejection or notification from the bank of a correction, it may take longer.
How do I see my Payslip?
On payday, you will be able to see your gross pay, all taxes and deductions, and your net pay on Workday, along with your direct deposit information.
You will be able to select your most recent payslips. For older payslips, under View select “Payslips”
How do I opt in to receiving paper copies of my payslips?
Employees are defaulted into paperless delivery of payslips. You may opt in or opt out for the advice slip at any time, and you may change your instructions as often as you choose.
Under Payment Elections, select “Edit” for the Payroll Regular Payment Pay Type
Change the Payment Type from Direct Deposit to Check.
Select “OK”
Under Accounts, select “Remove” to remove the out-of-use account(s) Note: an account cannot be removed if it is actively being used as a Payment Election
IMPORTANT:
To prevent payment delays, you must remove the closed account from your payment elections and accounts by the deadlines below.
If money is sent to a closed account, Payroll must wait for the funds to be returned by the bank before issuing a replacement check. This can take a minimum of four banking days.
Monthly:
no later than the 16th of the month
Biweekly:
no later than the end of the pay period (University Biweekly and Hospital Biweekly)
Direct Deposit is generally not available for involuntary terminations.
By law, banks must make direct deposits available by the next business day after the banking day the money is received from the ACH. But banks can choose to make the money available sooner than that — and many opt to give you access to your money right away.
By law, banks must make direct deposits available by the next business day after the banking day the money is received from the ACH. But banks can choose to make the money available sooner than that — and many opt to give you access to your money right away.
Each employee needs to provide the following information: bank name, account type, account number and routing number. Some states also require employees to sign a consent form before their employer can switch them to direct deposit.
This number serves as a reference for your payment advice that extends beyond the normal paystub date range. If you receive a physical check, the advice number will correspond to the check number. If you're using direct deposit, the advice number will be listed separately.
A financial institution may put a hold on a direct deposited check in some situations, such as if the check is for a large amount, the account is new, the account has been overdrawn, or the bank has a concern about the ability to collect the funds from the payer. Account start date.
Direct deposit funds are often available almost instantaneously, but sometimes the transfer takes longer to go through and be processed by the receiving bank. Direct deposits can take between one and three days.
It normally takes 1-3 days for direct deposits to clear. The actual transfer of funds is almost instantaneous, but it can take a few days for your bank to verify the funds and make them available to you. Weekends and public holidays can slow this process down, as can a range of other factors.
Direct deposit does not go through on weekends. If your payment comes from an employer, the company will decide whether to release the money on the business day prior to the weekend or after (Friday vs.
If you deposit cash, that money goes directly to your account and will be ready for you to use immediately. But for checks and other items that might need verification (to protect you and the bank), the money usually won't be available until the next business day.
You can check your direct deposit status by logging in to your bank account's online portal via the company's website or mobile app and reviewing the recent activity section. You will find a detailed description of any deposits, withdrawals, payments, or purchases there.
Deposits could also be delayed if the sender didn't deposit the money on time. Why does my direct deposit come at different times? Your direct deposit could come at different times if the sender doesn't always deposit the money on the same date. For example, maybe you get a deposit on the second Wednesday of the month.
What is this? Deposit or checking account advances let you borrow up to a certain amount of money (often $500) from your next direct deposit. However, this money, along with fees, will usually be automatically deducted from your next direct deposit when it goes into your account.
Direct deposit is a fully automated method of handling transactions. When receiving a direct deposit, the payer issues an electronic payment that is automatically transferred into the payee's checking account. There is no need for a physical check or for either party to visit the bank for the money to transfer.
Is ACH Direct Deposit? Direct deposits are a type of ACH payment – so yes, ACH is a direct deposit, but there are also other types of ACH payments. On the other hand, all direct deposits are ACH transfers.
Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Zelle®) are not considered a direct deposit.
Why didn't my direct deposit go through at midnight? It can sometimes take 1-3 business days to receive a direct deposit. If you did not receive the funds today, your cash may arrive tomorrow.
Personal, business, and payroll checks are good for 6 months (180 days). Some businesses have “void after 90 days” pre-printed on their checks. Most banks will honor those checks for up to 180 days and the pre-printed language is meant to encourage people to deposit or cash a check sooner than later.
If your payroll check is a direct deposit, then the bank generally is required to make the funds available for withdrawal not later than the business day after the banking day on which the bank received the electronic payment.
Standard ACH credit transactions can post as soon as 8:30 in the morning the following day, while ACH debit transactions typically take one to three business days to complete. The ACH network submits transactions at 6 a.m., 12 p.m., 4 p.m., 5:30 p.m., and 10 p.m. Eastern Time (ET).
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