What is Direct Deposit and its benefits?
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. You will receive a green "Advice Slip"
indicating the amount of money deposited into your account(s), your gross pay, taxes, and any deductions/reductions taken.
When are funds from Direct Deposit available?
Your money is immediately available by 8am on Payday.
How do I sign up for Direct Deposit?
- 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 UPS.
You must fill out the application correctly and accurately; otherwise, it will be returned unprocessed.
- For monthly employees, applications are due by the 31st to be effective for the following month.
- For bi-weekly employees, it will take 3-4 weeks before Direct Deposit begins.
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 percentage; we cannot deposit a flat dollar amount to a bank.
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 to which I have Direct Deposit?
You must notify Payroll Services immediately. Complete the Cancellation of Direct Deposit Form
and submit it to UPS before the 12th of the month for monthly employees or by the end of the pay period for bi-weekly employees 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.
What do I do to cancel or change my Direct Deposit?
If you want to cancel your Direct Deposit, submit a Cancellation of Direct Deposit Form by the
12th of the month for monthly employees or by the end of the pay period for bi-weekly employees.
To change your Direct Deposit instructions, you must submit a new Direct Deposit Application. Your current instructions will remain in place.
However, if you are making the change because you have closed an account, you should first submit a Direct Deposit Cancellation Form to stop
fund transfers to that account, otherwise a deposit to the closed account could occur, and you could experience a delay in accessing those
funds. (See the above question.)
Can I have Direct Deposit on an "Out-of-Cycle" Check (Hand Drawn Check)?
No. Direct Deposit applies only to "system generated" checks only. All "out-of-cycle" (hand drawn) payments are
made manually and cannot be directly deposited .
