Effective January 1, 2014, the university will require all employees to be paid by electronic direct deposit to a financial institution. Receiving a paper check will no longer be available after that date. This provides advantages both to the employee and the university. For the employee, you will be assured of your pay being in your account on payday with immediate access to those funds. No longer will you have to pick up a check, make a trip to the bank, and make the deposit. It eliminates the possibility of losing the check or having it stolen and also affords you the option to send your pay to multiple accounts or financial institutions.
If you do not have a bank account, Arkansas Federal Credit Union located in Stabler Hall can assist you with opening an account on any business day. Direct deposit also ensures that your pay is in the bank even if the university should be required to close for weather related problems on payday.
For the university, the elimination of paper checks removes the administrative requirement of manually generating, signing, and delivering a check. Also, it removes the additional work of reconciling checks on the bank statement and it eliminates generating replacement checks when a check is lost, as well as processing a stop payment with our bank for a lost check. Only a small number of employees still request to be paid with a paper check and it is not feasible to continue this special delivery method. This decision is similar to actions the federal government took to eliminate paper Social Security checks effective March, 2013.
In order to set up your direct deposit, you will need to complete a direct deposit authorization form and deliver it to the Payroll Office located in the ground floor of Admin North. This change may be made at any time, but no later than January 1, 2014.
If you have any questions, or need further assistance, please contact the Payroll Office at 501-916-3136 or payroll@ualr.edu.
