What is "Direct Deposit" and what are the benefits of enrolling?
NO MORE WAITING IN LINE AT THE BANK ON PAYDAY ! !
Direct Deposit provides the convenience of having your paycheck electronically deposited into the financial institution
account(s) of your choice. You will never have to waste time standing in line at the bank to deposit your paycheck,
worry about mail delays or lost checks, or miss your paycheck while you're out of the office. You can do Direct Deposits
to many different accounts and/or banks. A majority of University staff, faculty, and students currently are taking
advantage of Direct Deposit. Many banks and financial institutions offer incentives for using Direct Deposit, as well.
Direct Deposit is safe, simple and convenient.
How does Direct Deposit work?
USC electronically deposits your pay directly into your account(s) on payday. If you chose, you may receive a green "Advice Slip"
indicating the amount of money deposited into your account(s), your gross pay, taxes, and any deductions/reductions taken, or you can
see your check information on line at www.usc.edu/eTrac. See below under “How do I see my check information if I sign up for Direct Deposit).
When are funds from Direct Deposit available?
Your money is available by 8am on Payday.
How do I sign up for Direct Deposit?
- Via eTrac (www.usc.edu/eTrac) - this is the fastest method
- Select "Payroll Direct Deposit Update"
- At "Select Option", choose the appropriate action (new, change, etc)
- Enter the information for each account.
- Click "Save and Validate Entry" on this page
- IMPORTANT: eTrac has returned to the first page. You must click "Submit to Confirm Changes".
- If you do not have access to eTrac, or would prefer, you may instead fill out a Direct Deposit Application Form and attach voided check(s) or deposit slip(s) as required.
- Then, submit the completed form to your Home Department Coordinator or to University Payroll Services. You must fill out the application correctly and accurately; otherwise, it will be returned unprocessed.
How soon after I sign up will my checks be direct deposited?
Generally, it will take 3-4 weeks before direct deposit begins.
How do I see my check information if I sign up for direct deposit?
You can see your check information on line at www.usc.edu/eTrac under "Payment Stub Inquiry".
- You can print a PDF version of any check stub on your local printer
- Go to www.usc.edu/eTrac
- Select "Payment Stub Inquiry"
- Select pay period
- At bottom of screen, select "create PDF"
- At message, click on "view reports"
- Select and print
If you wish, you can automatically receive a paper copy of your check stub, known as an "advice slip", each payroll. To sign up to receive your advice slip:
- Select "Work Information Update"
- At bottom of screen, at "Direct Deposit Advice Disposition Information" choose the drop-down box
- "Electronic – Not Printed" means you will not receive a paper copy of your check stub
- "Home Department" means you will receive a paper copy of your check stub ('advice slip')
- Click on "submit for confirmation"
- IMPORTANT: screen returns to main Work Information Update page. You must select "Submit for Update"
Can I set up Direct Deposit to more than one bank?
Yes. USC can split your net payroll between multiple accounts and/or banks. However the split can only be done by a whole percentage
(e.g. 75% and 25%), and the total must equal 100%. We cannot deposit a flat dollar amount nor can we direct deposit a portion
of the check to a bank and issue the balance on a paper check.
Can I set up Direct Deposit with the USC Credit Union?
Yes. You may set up a 100% Direct Deposit to the USC Credit Union either by using Payroll Service's Direct Deposit Application Form submitted to your Home Department Coordinator or UPS, or directly through the Credit Union. However, if you wish to set up a percentage deposit to the Credit Union as well as a percentage to an off-campus financial institution, you must submit the Direct Deposit Application Form to your Home Department Coordinator or UPS.
What do I do if I close an account or if I want to cancel or change Direct Deposit?
If you close an account: You must change or cancel your direct deposit instructions immediately.
Cancel or change your direct deposit instructions at www.usc.edu/eTrac (fastest method) or complete the Cancellation of Direct Deposit Form.
Deadlines: For monthly employees: by eTrac the deadline is the 16th of the month; if by paper the deadline is the 12th. For Biweekly employees: by eTrac, by no later than the Friday after pay period ends; if by paper no later than the Wednesday pay period ends.
If money is sent to a closed account, Payroll must wait for the funds to be returned before issuing you a replacement check. This can take up to four banking days. If the deposit is sent to a closed account, please check with your bank branch to determine if they returned the money to USC or if they re-opened your account.
When is direct deposit not available?
Direct deposit is not available in the following situations:
- On "hand drawn checks" (late pay, terminations, etc)
- If you do not yet have a valid social security number.
- On non-resident alien stipend or fellowship checks.
Can I set up direct deposit for any checks issued to me by Disbursement Control?
If you expect to receive checks from Disbursement Control as well as payroll (e.g. reimbursements), you can set up direct deposit for your Disbursement Control checks through Payroll only by using the paper Direct Deposit Application Form. You can also set up direct deposit through Disbursement Control directly.
Through the paper form, you have the option to send your disbursement control checks to different banks or financial institutions than your payroll checks.
