What is Direct Deposit?
Direct deposit is a safe and easy way to have your money deposited directly into your checking or savings account. When you use direct deposit, you allow a company or organization to electronically transfer money into your bank account.
What types of payments can be made by Direct Deposit?
Any ongoing, regularly-scheduled payment, including Salary payments from your Payroll, short-term and long-term benefit checks, benefits issued by state governments, such as retirement, and pension payments.
How is money Deposited into my account?|
Dartmouth College's bank will electronically instruct your bank to credit your account for the amount owed to you on the predetermined date. Your bank then deposits this money into your account and charges the Payroll's bank account. You don't need to have an account at the same bank as your Payroll department.
How can I be sure my deposit was made?
You will get a payment stub in writing or electronically from your Payroll that lets you know it sent the deposit to your account. If Payroll doesn't provide such a stub or notice, your bank will notify you within two days after it receives the deposit or will provide you with a telephone number you can use to check the status of your deposits. The deposit will also be shown on your monthly bank statement.
What if there is a discrepancy between my bank statement and the payment stub or deposit notice I received from Payroll?
Notify your bank and your Payroll department immediately. You have up to 60 days from your account statement to notify your bank in person, by telephone, or in writing of an incorrect deposit amount. If the bank needs more than 10 business days to investigate and resolve the situation, it must credit the amount in question to your account during the investigation.
Can Payroll take money out of my account or get confidential information about me through my bank?
Generally, no. Only you can approve the withdrawal of money from your account, and Payroll only has access to the information you provided. However, if Payroll pays you too much (e.g., if it sends two deposits to your account for one pay period), Payroll can reverse the incorrect payment without notifying you within five business days of making the payment. Receiving your money by direct deposit is actually more confidential than being paid by check because fewer people are involved in the delivery and deposit of your payment.
When can I expect my payroll that is direct deposited to be in my bank account?
The money will be in your account on your actual payroll date. If the payroll date is a Saturday, Sunday, or a holiday, the money will be in your account the next business day. Please remember that Automatic Teller Machines can be updated one - two days after the transaction date.
What happens if I am paid Biweekly?
The first payroll after you requested direct deposit the pre-note process takes place. This process submits your account information only to the bank, no money is transferred resulting in an actual CHECK for this period. The second payroll money is transferred to your bank account. You will receive a NON-NEGOTIABLE STUB showing the amount of your direct deposit.
What happens if I am paid Monthly?
For employees that are paid on the monthly payroll if you submit your request for or change to direct deposit by the middle of the month your direct deposit will be in effect for your next payroll. During the middle* of the month a special pre-note process is submitted. If you miss the deadline for the special pre-note, your account will be pre-noted on the first of the following month requiring two payroll's before your direct deposit will be in effect. * Please refer to the Payroll Schedule on the Payroll web page at http://www.dartmouth.edu/~control/payroll/ to get the exact deadline date. Please also monitor the Controller's Office Bulletin, or Employee Information Services Bulletin as these deadlines can be frequently updated.
Last Updated: 6/8/11