Direct deposit allows your paycheck to be automatically deposited to your checking or savings account. If you want to cash the check at TD Bank and you do not have an account, the bank will charge $7 to do so. Choosing direct deposit is safer and more convenient than receiving checks because:
- You have instant access to your money on payday, no matter where you are
- You do not have to be at work on the payday to be paid
- It eliminates the danger of losing a paycheck and having to pay a stop payment/reissue fee
- You do not have to rush to the bank and wait in line every payday
To sign up for direct deposit or make changes, fill out the Direct Deposit Request form and return it to payroll in Stokes 220 at least 7 days in advance of the payday.
Note: Contact payroll before you close a direct deposit bank account. Failure to do so may result in delays in receiving your pay.