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DIRECT DEPOSIT
Find the Star Direct Deposit Form here.
Direct Deposit is available for your employees.
- No lost or stolen paychecks.
- You don't have to be there to sign or distribute paychecks.
- Faster bank account reconciliation.
- Employees will still receive a pay stub every payday showing all the same information they would see on a normal check.
What is Direct Deposit? Direct deposit is a safe and easy way to have money deposited directly into an employee’s checking or savings account. When you use direct deposit, you allow a company to initiate an electronic transfer of money from your account to your employee's bank account.
Reasons to Use Direct Deposit
- It's convenient. Your employees don't have to go to the bank to cash their checks.
- It's safe. No more lost, stolen or misplaced checks. Did you know that nearly 4 million paychecks are lost or stolen each year?
- It's reliable. The money will be available the morning of the payment or sooner.
- It saves time. Did you know that people spend as much as 24 hours each year waiting in line to cash their paychecks?
- An employee can get their paycheck even when they are out sick or out of town.
- It helps employees manage their money. They can have their paycheck deposited directly into more than one account (such as a checking and a savings account), thus helping them set up a savings plan.
- But, according to NACHA, The Electronic Payments Association, the most important reason of all to use Direct Deposit is that it benefits all of us -- consumers, companies and the country. A quarter century of success proves that Direct Deposit is safe, confidential, and allows you to easily manage finances.
Frequently Asked Questions
How do I begin using direct deposit?
Start by calling your Payroll Specialist for the Employer Direct Deposit Setup Form. Then, you can just print the Direct Deposit form above, have your employee complete it, attach the proper documentation and fax everything to your Payroll Specialist at (909) 584-1900. It's a very simple process to get started. All must be received by Star at least 3 business days before your payroll.
How is the money deposited into my employee’s account?
We will electronically instruct your bank to debit your account for the amount owed by you on the predetermined date. Your bank then deposits this money into your employee’s account. You don't need to have an account at the same bank as your employee. Note: Due to individual bank procedures, direct deposits will be debited from the employer's bank account 3 business days before payday and credited to the employee's account up to 2 business days before or after payday.
Can my company or an employee stop using direct deposit if we change our minds?
Yes. Just fax a note to your Payroll Specialist that says you want to cancel Direct Deposit and they will take care of it immediately.
Can Star Payroll take money out of my employee’s account or get confidential information about them through the bank?
No. Only an employee can approve the withdrawal of money from their account and we only have access to the information provided to us. Paying your employee by direct deposit is actually more confidential than being paid by check because fewer people are involved in the delivery and deposit of the payment. |
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