You may now have your paycheck’s net pay …
You may now have your net pay deposited into multiple accounts at one or more banks (up to 6 different accounts). Expense Reimbursements may be deposited into yet another account. You will need to complete the attached form to make any changes. If you do not want to make any changes, you do not have to do anything.
You may select a specific dollar amount or a percentage to go to each account, and then the remainder of your net pay to be deposited into one account.
NIS will process the instructions in this order:
1. Specific Dollar amounts ($)
2. Percentages of net pay (%)
3. Any remaining net pay (R)
Example: Net Pay Amts
$1500 $1000
Instructions:
$200 to Union Bank Savings $200 $200
$150 to Farmers Bank Checking $150 $150
50% Net Pay to Bank of Valentine Checking $750 $500
25% Net Pay to Wells Fargo Savings $375 $150 (not a full 25%) Remaining Net Pay to Wells Fargo Checking $ 25
On the Direct Deposit form, you will need to complete the following information:
• Beginning (B), Changing (C) or Stopping (S) an account
• Bank Routing Number
• Your Account Number
• Savings (S) or Checking(C)
• Method Code ($, %, R)
• Dollar Amount or Percentage if choosing $’s or %’s.
• Sign and date
• Send or e-mail the form to Human Resources
o Your pay stub will show each direct deposit by amount
Direct Deposit requests will be processed to occur with the next paycheck you receive. They will not go thru the prenotification process anymore. Thus, you need to be absolutely sure you provide your payroll office your CORRECT bank account number and bank routing number.
If you currently have a payroll deduction such as a credit union, you may now put that in as a direct deposit and the money will be direct deposited on pay day, instead of possibly days later, which is the case for some. If you decide to switch your payroll deduction to direct deposit, you will also need to complete the appropriate form(s) to stop your payroll deductions.
All employees are encouraged to use direct deposit. If you are out of the office, out of town on business, vacation, etc., you do not need to worry about your pay check. Your money will be in your bank!
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