Direct Deposit Policy
Kyle Cavanaugh, Senior Vice President for Administration
The University of Florida currently has a direct deposit policy that states, “All employees, including temporary hires and non-work study students, are required to participate in the Direct Deposit Program as a condition of employment, regardless of date of hire.” By Federal Regulations, Work-Study students are not required to participate in the Direct Deposit Program, but they are encouraged by the University of Florida to participate. For a variety of reasons, there continue to be a significant number of paper paychecks issued each pay cycle.
The University Cost Reduction and Efficiency Task Force has recommended the immediate implementation of a pay/debit card as an option for employees that are either not currently using, or are unable to use, the direct deposit process. To implement the cost saving recommendation and to streamline the process for entering all direct deposit information, beginning with the March 21 – April 3, 2008, biweekly payroll, all departments will be required to submit the Direct Deposit form as part of the hire packet to Human Resource Services and Student Employment for new employees, instead of directing the form to University Payroll Services. Employees will continue to send the form to University Payroll Services for changes to their existing direct deposit information.
Employees who are unable to establish an account at a financial institution must request to have their salary applied to a pay/debit card through a financial institution in partnership with the University. The pay/debit card can be used by the employee for point-of-sale transactions such as grocery stores, gas stations, etc. They can also be used at ATM machines. There are no fees for the cards for the employees if they stay within the allowable number of ATM withdrawals per month. Additional information on the pay/debit card can be viewed at http://fa.ufl.edu/payroll/. The pay/debit card must be obtained and the Direct Deposit Authorization form must be completed by the employee. The Direct Deposit Authorization form will be submitted by the department to Human Resource Services or Student Employment Office for new employees. Current employees will send the form to University Payroll Services.
Current employees not enrolled in the Direct Deposit Program will have until May 1, 2008, to enroll. After May 1, any employee that has not enrolled in the Direct Deposit Program, or established a pay/debit card, will have their paycheck mailed to their home address. Individual communications regarding this policy will also be distributed to employees currently receiving a paper paycheck.
We appreciate your support of this initiative.
If you have questions, please contact University Payroll Services at 392-1231.