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Automatic Direct Deposit FAQ

Automatic Direct Deposit FAQs

 
  Q1: What exactly is the Direct Deposit Program?
  Q2: Are there any costs to me if I participate in Direct Deposit?
  Q3: How long after I sign up will my pay warrant begin to be directly deposited into my account?
  Q4: I have more than one account at my bank. Do I choose the account for my Direct Deposit to be placed in?
  Q5: Does my entire net pay have to be deposited?
  Q6: Once I sign up for Direct Deposit, can I change my financial institution?
  Q7: If Friday (payday) falls on a State holiday, when will my pay be deposited into my account?
  Q8: Will my financial institution actually have my pay posted to my account during its regular working hours on my payday?
  Q9: Can my pay be deposited in a financial institution outside the state of Iowa?
     

Frequently Asked Questions

Printable Version
Q1:   What exactly is the Direct Deposit Program?  
  A1:   Direct Deposit is the electronic transfer of funds from the State of Iowa account to an individual employee's checking or savings account at their participating financial institution. top
     
  Q2:   Are there any costs to me if I participate in Direct Deposit?  
  A2:   No, this program is offered as a service to employees. top
     
  Q3:   How long after I sign up will my pay warrant begin to be directly deposited into my account?  
  A3:   Your direct deposit will be effective with the first full pay period after receipt of the correctly completed authorization form by Centralized Payroll, State Accounting Enterprise, Department of Administrative Services. top
     
  Q4:   I have more than one account at my bank. Do I choose the account for my Direct Deposit to be placed in?  
  A4:   Yes. You need to choose between savings and checking. However, some financial institutions will automatically transfer your funds from one account to another with prior arrangements. top
     
  Q5:   Does my entire net pay have to be deposited?  
  A5:   Yes. You must be paid entirely by paper pay warrant or direct deposit. Combinations of both are not possible. top
     
  Q6:   Once I sign up for Direct Deposit, can I change my financial institution?  
  A6:   Yes. You may change your financial institution at any time and have your pay automatically deposited without missing a payday. However, you must complete a new enrollment form and return it to your department's Human Resources Associate. The form will then be forwarded to Centralized Payroll for change approval. top
     
  Q7:   If Friday (payday) falls on a State holiday, when will my pay be deposited into my account?  
  A7:   Your net pay will be deposited on the last workday before the holiday. top
     
  Q8:   Will my financial institution actually have my pay posted to my account during its regular working hours on my payday?  
  A8:   This depends upon the policies of your institution. Most financial institutions will credit your account at the close of business on Friday, while some institutions will actually credit your account during the day. For an accurate answer, ask your financial institution about the policies. top
     
  Q9:   Can my pay be deposited in a financial institution outside the state of Iowa?  
  A9:   Yes. Most financial institutions throughout the United States participate in the direct deposit program. top
 
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