Direct Deposit Program

Frequently Asked Questions (FAQs)
  

         1.   Is direct deposit a condition of employment?

      Yes.  Direct deposit is a condition of employment for all University employees paid by VCU Payroll Services.  Direct deposit promotes automation and streamlining efficiencies by offering employees faster access to their pay and the additional security, convenience, and flexibility of electronic banking.

If you do not currently have an account at a financial institution, you must obtain one in order to meet this condition of employment.  Otherwise, there will be a delay in receiving your paycheck.

You may be exempted from direct-deposit participation only if you do not meet the requirements to obtain a bank or credit union account or if your financial institution does not accept direct-deposit transactions.  In either situation, a statement to this effect from your financial institution must accompany your department's hiring paperwork.

2.   How long will it take to have my pay deposited to my account after I complete my Direct Deposit Authorization Form?

      Direct deposit should become effective the next available pay period after VCU Payroll Services receives your completed Direct Deposit Authorization Form (click here or go to http://www.hr.vcu.edu/forms/index.htm).  

      Return your completed authorization form to VCU Payroll Services by one of these methods:

• Campus mail to P. O. Box 842511.

• Fax to 828-3200.

• Hand-deliver to VCU Payroll Services in the Human Resources Building at 104 North Belvidere Street (Monroe Park Campus).

3.   How will I know my money has been deposited?

      Go to the Self-Service Banner (SSB) system at http://www.eservices.vcu.edu/ (click on the "Employees" button) for the following information about your pay:

• Method of payment

• Amount of your gross pay (before deductions)

• Amount of your net pay (after deductions)

• Deduction information

      Your statement from your financial institution will indicate your pay as a deposit.

4.   Will my net pay actually be deposited to my financial institution on payday?

Yes.  Your funds will be available to you on payday.

5.   May I keep my payroll deductions with the Virginia Credit Union?

Yes.  Faculty and staff may continue to have payroll deduction for payments to the Virginia Credit Union in addition to having their net pay direct-deposited into an account with the Virginia Credit Union or other financial institution.

Currently, hourly employees do not have payroll deduction to the Virginia Credit Union; but they can have their net pay direct-deposited into an account with the Virginia Credit Union or other financial institution.

6.   Will I be able to receive a check for part of my pay and have the remainder deposited directly to my account?

No.  With direct deposit, the entire net amount must be deposited to your account.

7.   What if I want part of my paycheck deposited to savings and part to checking?

We can deposit your net pay to only one direct-deposit account.  If you wish to split the amount into two accounts, your financial institution may be able to do this automatically for you after your pay has been deposited.  Check with a representative at your financial institution about this service.

8.   Into which financial institution may I have my net pay directly deposited?

You may deposit your net pay into almost any financial institution anywhere in the United States.

9.   What if I change financial institutions some time in the future?

• Let VCU Payroll Services know immediately -- by e-mail:  payroll@vcu.edu; phone:  828-0742; or fax:  828-3200.

• Complete another Direct Deposit Authorization Form (click here or go to http://www.hr.vcu.edu/forms/index.htm) and indicate the change.  The direct deposit change should become effective the next available pay period after VCU Payroll Services receives your completed authorization form.

10.     If I terminate my employment with VCU, what happens to my direct deposit?

Your final pay, including salary and leave payments, if applicable, will be directly deposited into the bank account on file.

11.     If I have additional questions about direct deposit, whom do I contact?

E-mail VCU Payroll Services at payroll@vcu.edu or call 828-0742.

Return to top of page

Mailing address:  Virginia Commonwealth University  |  Human Resources - Payroll Services
Human Resources Building, 104 North Belvidere Street, P.O. Box 842511  |  Richmond, VA  USA  23284-2511
Phone:  (804) 828-0740 (Voice)  |  Fax:  (804) 828-3200  | Email:  payroll@vcu.edu

This page is maintained by the VCU Human Resources web team  |  Revised:  July 18, 2006

Virginia Commonwealth University   |   Human Resources   |    HR - A to Z