Payroll: Direct Deposit

Direct deposit is a condition of employment at James Madison University. All employees must complete a Direct Deposit Authorization Form when they complete all other initial employment forms (i.e. tax forms, I9, contracts, etc.). The only exception is for a one-time only payment to someone.

Frequently Asked Questions:

Can I deposit money into a foreign bank account?	No, you may only authorize direct deposit for banking institutions within the United States.
What do I need to include with my authorization form?	You must attach a voided check (or copy of ) . We use the information on this check to accurately record the routing number and account number required for the deposit of funds. Note: When writing "VOID" across a check, do not write over the numbers at the bottom of the check. We must be able to read these numbers to ensure proper entry of account information.
How long does it take for my direct deposit to take effect after I submit it to your office?	Normally, we are able to have your direct deposit active for the next payroll after submission, as long as we receive it more than a week before payday. However, at very busy times of the year (September and January), it may take up to two pay periods to become effective.
How will I know what my net pay is once it is deposited?	You can access all of your pay information, as well as, view leave and other compensation information using MyMadison. Please verify that money is in your account, by either contacting your bank or validation from MyMadison, before writing any checks against it. The University will not be held responsible for overdrafts.
Can I change my direct deposit on-line?	Yes, you may change your deposit information via MyMadison.
How do I change a direct deposit account?	You will need to fill out another Direct Deposit Authorization Form, sign it and submit it to our office with a voided check (or copy of) or make your changes on-line via MyMadison. Each new direct deposit authorization replaces any previous information on file.
What is the difference between fixed account and net accounts on the authorization form?	A fixed account is a bank account where a specified dollar amount is deposited each pay period. For example, you may want $20.00 deposited in to your savings account each paydate. This savings account would be listed as a fixed account. A net account is the bank account that will have the remainder of your pay deposited each paydate. The amount going into this account may vary from paydate to paydate. Fixed accounts are optional. You can have up to three fixed accounts and one net account.
What is the significance of the deposit order field?	The deposit order is the order in which your money will be deposited. This is not the same as the number of direct deposit accounts you have. If you have multiple accounts you will need to specify the order in which the accounts should be processed. Your balance account has a deposit order of “999” which is the highest number available. Therefore, your balance account will always be processed last. The deposit order number for any other accounts can range from 1 to 998. When considering the deposit order, give the lowest deposit order number to the account you wish to have processed first. Any subsequent accounts would have a higher deposit order number based on the order you wish to have the account processed.
Which one of my accounts will my employee reimbursement payments go to?	Employee reimbursements are always deposited to the balance or "999" account.
What happens if my pay is less than or greater than the dollar amount(s) I have designated in my direct deposit account(s)?	If you designate a fixed dollar amount to go into an account but your paycheck is less than that amount, only the amount available will be deposited into the account. If you have more than one account with a fixed dollar amount, the account with the lowest deposit order number will be deposited to first. If there is more money to be deposited, it will go to the account with the next highest deposit order and so on. If your pay is greater than the dollar amount(s) you have designated for your direct deposit, the money will be deposited into the ”999” balance account.
How do I change/delete my "999" Balance of Net Pay account?	You cannot delete a “Remaining Balance” account! Everyone must have a valid balance account. In order to change this account, you must edit it. If you are trying to change your balance account to the same banking information as an existing fixed account, you will need to write the routing/account numbers down, delete the existing fixed account, then edit and change the “999” balance account to the new banking information. Note: Do not add a 100% account, and leave invalid banking information in your balance account. Valid banking information must be keyed to the “Balance of Net Pay” account.
What if I do not have a bank account?	Because direct deposit is a condition of employment you will need to open a bank account to deposit your pay. Commonwealth One Credit Union on campus (located at Madison Union, on the 2nd floor next to the post office) will allow you to open up a savings account with only a $5.00 deposit. However, you may authorize direct deposit for any banking institution within the United States.
When is my money deposited in my account?	Money is made available to your bank at 12:00 a.m. the day of payday. Each individual banking institution post their deposits at different times. Check with your individual institution to find out what time the funds will be available for you to withdraw. They should be available when the bank opens that day, even though the ATM machines may not be updated until later in the day.

Self Service

You have three options to change your direct deposit account information—you can edit an existing account, delete an existing account or add a new account. Please remember that if you enter incorrect banking information, it will cause the deposit to be rejected. If the funds are returned to JMU, this may take up to 5 business days. Payment cannot be made to you until the bank returns your money to JMU. There are no emergency funds available to expedite this process. Make every effort to confirm that your account information is correct prior to saving.

Edit an Account

You may choose to edit an existing account for several reasons:

You want to adjust the amount or percentage of a direct deposit that is distributed to this account.
You need to change your bank routing number or account number.
You want to change the deposit order in which your direct deposit is distributed to the listed accounts.

To edit an existing account, click the Account Number you wish to edit, then click the Edit icon (looks like a pencil) next to the account number field. You can change the Account Type from Checking to Savings, enter a new routing number and account number, change the deposit type to either Percent or Amount, enter a percentage or dollar amount, or change the deposit Order for that account. Review your changes, slide the acknowledgement button to “Yes”, and click the Save button when you are positive there are no errors.

Delete an Account

You may choose to delete an existing account if you no longer want to distribute any of the direct deposit to that account. However, you will not be able to delete an account with a Deposit Type = “Remaining Balance.” To delete an account, click the Account Number you wish to remove, and select the Remove button. You will be prompted to confirm that you wish to delete this account. Select “Yes” or “No”.

Add an Account

You may add an account when you wish to distribute your deposit to multiple accounts. For example, you want $50 of every deposit to go to your savings account, $50 to go to a savings account for your children, and the balance to go to your joint checking account.

To add an account, select the Plus Sign button and complete the information. Review your data entry, slide the acknowledgment button to “Yes”, and click Save once you are positive there are no errors. You may have up to four accounts.

Tips

Once you enter a correct routing number and tab out of the field, your bank name should appear to the right. If it does not, please check your routing number. You will not be able to save your changes without a valid routing number.
You must have exactly one “Remaining Balance” account. Any changes to that account must be performed by editing the existing account.
The deposit "Order" field helps you prioritize the order in which your deposit is distributed. For example, the account with a deposit Order of “1” will be processed first, then “2” and “999” would be last.
Determine when your bank account changes will take effect using the Effective Date Table.
You may add or edit information for multiple direct deposit accounts in a single self-service transaction. Please keep in mind that once the transaction changes are entered and saved, and you have navigated off the Self-Service Direct Deposit Page, you cannot make additional changes in Self Service Direct Deposit on the same day. The system only permits one on-line direct deposit change per day.