Payroll and leave
Direct deposit FAQs
Have a question about direct deposit? Scan through our list of the most frequently asked questions.
If you have additional questions, please email firstname.lastname@example.org or call (804) 828-0742.
- Is direct deposit a condition of employment?
- How long will it take to have my pay deposited into my account after I complete my direct deposit authorization form?
- How will I know my money has been deposited?
- Will my net pay actually be deposited to my financial institution on payday?
- May I keep my payroll deductions with the Virginia Credit Union?
- Will I be able to receive a check for part of my pay and have the remainder deposited directly into my account?
- What if I want part of my paycheck deposited to savings and part to checking?
- Into which financial institutions may I have my net pay directly deposited?
- What if I change financial institutions sometime in the future?
- If I terminate my employment with VCU, what happens to my direct deposit?
Yes. Direct deposit is a condition of employment for all university employees paid by VCU Payroll Services, as mandated by the Virginia Department of Accounts (which will assess fines for paper checks). 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, and you may be required to receive your pay through a pay card program. Please note that there are certain fees associated with the acquisition and use of most pay cards.
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.
Return your completed authorization form to VCU Payroll Services by one of these methods:
- Campus mail to P.O. Box 842511
- Fax to (804) 828-3200
- Hand-deliver to VCU Payroll Services in the Human Resources Building, 104 N. Belvidere St., on the Monroe Park Campus
Log in to the myVCU Portal and click on “eServices/VCU Self Service” 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.
Yes. Your funds will be available to you on payday.
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.
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.
We can deposit your net pay to only one 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.
You may deposit your net pay into almost any financial institution anywhere in the U.S.
Inform VCU Payroll Services immediately through one of the following methods.
- Email: email@example.com
- Phone: (804) 828-0742
- Fax: (804) 828-3200
Complete another direct deposit authorization form 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.
Your final pay, including salary and leave payments, if applicable, will be directly deposited into the bank account on file.