Policy
The University of Florida currently has a direct deposit policy that states, "All employees, including temporary hires and non-work study students, are required to participate in the Direct Deposit Program as a condition of employment, regardless of date of hire". By Federal Regulations, Work-Study students are not required to participate in the Direct Deposit Program, but they are encouraged by the University of Florida to participate.
To Enroll
Employees who are unable to establish an account at a financial institution must request to have their salary applied to a pay/debit card through Wachovia, called "My Direct Pay Card". The employee will need to go to any Wachovia location with the following 3 documents:
- Social Security Card,
- Driver's License or state issued picture identification card, and
- Direct Deposit Authorization Form.
After the pay/debit card has been established, the employee must complete a Direct Deposit Authorization Form. The bank can provide the correct banking information required on the form. The form must be faxed or mailed to University Payroll Services, as specified on the form.
Once the form is received and entered by the payroll department the payroll payment will be deposited electronically to the pay/debit card each payday.
About the Pay/Debit Card
The Pay Card offered by Wachovia, My Direct Pay Card, is a limitied function account linked to a Visa debit card.
The pay/debit card can be used by the employee for point-of-sale transactions such as grocery stores, gas stations, etc., everywhere Visa debit is accepted or at merchant locations using your PIN number. The cards can also be used for bill payment, online purchases and phone purchases.
The cards can also be used at ATM machines. There are no monthly service fees and no minimum balance requirement. However, there are some limits to the number of monthly (per bank statement cycle) free ATM and PIN-based POS transactions.
|
| Transaction Type |
Number of Free
Transactions |
Additional Charge
Per Transaction |
| Wachovia ATM Withdrawal |
4 |
$1.00 |
| Wachovia ATM Inquiries |
4 |
$0.25 |
| Pin-Based POS Purchases |
2 |
$0.25 |
Note: Non-Wachovia ATM use will result in two charges; one from the other financial institution and one from Wachovia. These charges may total several dollars.
Check the card balance or transaction activity at any Wachovia ATM (4 free inquiries/month), by using Wachovia Online Banking (free) or by calling 800-922-4684.
There are no checks for the card and no deposits other than the electronic payroll deposit.
Benefits To Employees
- No more waiting to receive or cash your checks. The money will be in your account on pay day. Even if you are on vacation.
- Avoid paying costly check-cashing fees.
- For your safety, only carry the amount of cash you need.
- Eliminate the risk of lost or stolen pay checks.
If you have any questions, please contact University Payroll Services at 352-392-1231.
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