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Direct Deposit
is a safe and reliable method for receiving paychecks: it allows the
electronic transfer of funds directly to your financial institution
account which includes checking, share draft, savings, and/or investment.
All MUSC employees paid on a regular bi-weekly or monthly payday
are eligible to enroll for Direct Deposit. Employee may select up
to three direct deposit distributions to the financial institutions
of their choice.
Direct Deposit is a safe, convenient, and smart way to organize
personal finances while saving you time and money.
- Safety: Because pay is sent to your financial
institution electronically, there are no checks lost or stolen
- Convenience: Because funds are in your account
on payday, eliminating payday worries about getting to the bank
before it closes and no waiting in line on payday.
- Smart: Because you know exactly when and where
your money is and have the ability to divide paychecks into different
accounts, and at different institutions. Additionally, your paycheck
gets to the bank even if the weather is bad, you’re on vacation
or out sick.
How do I sign up for direct deposit?
Complete the Authorization
Agreement for Automatic Deposit Form. The completed form can be
faxed (along with a copy of a voided check) to (843) 792-6157 to the
attention of Lee Sherrill.
How many accounts can I have using direct deposit?
Our payroll system is set up for three accounts. One account is considered
the primary (where the NET pay goes) and the other two are secondary
accounts where a designated amount is deposited.
When will my direct deposit start?
Upon receipt of proper documents, a biweekly employee will receive
two (2) actual paychecks before direct deposit starts. A monthly employee
will receive one (1) actual check. This delay allows MUSC to pre-note
your direct deposit allowing banks time to send payroll notification
that the account is correct. You will still receive a statement indicating
earnings and deductions similar to a normal paycheck.
Why do I have to receive an actual check when changing either
account number or banks through direct deposit?
The information must be keyed and sent to the bank to verify the account
number is accurate and that the account is open. If we send the money
to the wrong number, it could take a week to ten days before we receive
credit from the financial institution. The difference is in the method
in which the funds are sent.
What is the difference between direct deposit and a deduction?
Direct deposit is sent electronically to our bank (Wachovia) and they
in turn send the information to ACH (automatic clearing house) which
then sends the deposits out to the various banks. Deductions are only
allowed to a limited number of financial institutions: Carolina Federal
Savings Bank (formerly Sacred Heart), S.C. Federal Credit Union, and
S.C. State Employees Credit Union.
How do I stop direct deposit? What should I do if I want
to close one of my accounts?
Complete the Authorization Form for Stopping Automatic Deposit. Fax the completed document
to Lee Sherrill at (843) 792-6157. It is critical that this information
is sent to Payroll as soon as possible as we typically process payrolls
1 ½ weeks before actual payday. Financial Institutions do not
notify the Payroll Department when an individual closes their account
unless it is after the fact and they received money. If the money
goes to an account that has been closed, we must have written confirmation
from the bank that the funds have been credited back to MUSC before
we can reissue you a check. If your bank will not send/fax us a statement,
then we must wait until we receive the credit which could take a week
to ten days. Upon receipt of the credit we will request a check.
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