Direct Deposit

Direct Deposit

What are the important details to remember about direct deposits?

  • Payroll encourages you to enroll in direct deposit through Workday@UChicago. With direct deposit, your paycheck funds will deposit directly into your account(s) and be available to you when your financial institution opens for business on the payment date.
  • New direct deposits normally take two pay periods for biweekly and one pay period for monthly to take effect due to the required pre-note process. The same timeline applies when changing or revising an account.
  • A paper check will be generated to you in lieu of a direct deposit during the pre-note process.
  • By establishing a direct deposit you give the University permission to print a paper check, if necessary, and to correct all overpayments.
  • The University is released from any liability should the electronic transfer not be credited to your account on payday.
  • The University offers a great new benefit, the rapid! PayCard® Visa® Payroll Card if you do not want to sign up for direct deposit. Your paycheck will be deposited onto a debit card so you have instant access to your cash on the morning of your payday! It's easy, more secure than cash, and saves you money over check cashing fees.

How do I Establish a Direct Deposit in Workday?

Click the 'Pay' worklet on the main screen
Click 'Payment Elections'

To change account information, click 'Change Account' in the Account section. If you need to add a primary or additional account, click 'Add Account'. If changing how your pay is distributed between accounts, click 'Change Election' in the Payment Election section. There are two default pay types in the Payment Elections section: Regular and Expense Reimbursement. Regular is for all regular payroll payments. Any regular payroll payments will be paid to the accounts selected under this payment election. Expense Reimbursement is used only for reimbursements issued through the payroll system.

To change what accounts are used for the specific pay types, click the 'Change Election' next to the Pay type (Regular or Reimbursement) that you wish to update. If no payment elections are already entered, you may need to click the + icon to add an account to a payment election. You will need to do this if adding an additional account under the Payment Election as well.

The selections that will be received after adding a Payment election line will be:

  • Country, the country from which the account originates (United States)
  • Currency, which will be USD
  • Payment Type (Direct Deposit or Check)
  • Account - the account that will be used in the payment election

Then you will have three options in the next sections: Balance / Amount / Percent

  • Choose Balance if the remaining balance should be sent to this account
  • Choose Amount to specify a specific amount to be paid to the account
  • Choose Percent to specify a percentage to be paid to the account

Example: You receive a net payment of 1000
You want your regular pay distributed between three accounts.
You want $200 to be paid to account 3
You want 10% paid to account 2
And you want the remaining balance paid to the primary account

This means that you will need three sections under the Regular pay type Payment Election
The first line, you can choose Amount, then enter $200
The second line, you choose Percent, and then enter 10
And the third line, you can choose Balance. You do not need to enter an amount here.

Your pay will be issued as so:
$200 will be paid to account 3
$100 will be paid to account 2 
And $700 will be paid to the primary account

The above direction can also be found in a Quick Reference Guide

How do I cancel a payment election in Workday?

There is a 2 step process in order to cancel and remove direct deposit elections in Workday. First, you will need to remove the account from one or both Payment Elections if the account is used under either the Regular and Expense Reimbursement pay types.

To remove an account from a payment election, under 'Payment Type', remove 'Direct Deposit' from the box and then type 'Check', click 'Enter' on your keyboard, then click 'OK'

If you are only changing the account, under 'Account', find and select the new account, then click 'OK'. Do not click the '-' icon sign if you only have one payment election listed under any pay type. You must have at least one payment election under each pay type, whether it is 'Direct Deposit' or 'Check'

After the account is removed from either or both pay types, the account can be deleted from the 'Accounts' section. To delete an account, click the 'Delete Account' button next to the account you wish to delete. But remember, you will receive an error message if the account is still used under any of the Payment Elections

What if I Close a Bank Account?

You should contact Payroll immediately when a direct deposit bank account is closed. Failure to notify Payroll about a closed account may cause a delay in receiving a biweekly or monthly payment.

Questions concerning direct deposit should be directed to the Shared Services Help Desk at 773-702-5800, emailed to payroll@uchicago.edu, or submitted through the Ask a Payroll Question form via the Shared Services ServiceNow Portal.