Understanding Direct Deposit
Direct deposit is the electronic transfer of payment directly from the account of the payer (Hampshire College) to that of the party being paid (student employee).
Direct deposit is a safe and convenient way to deposit your paycheck to a financial institution in any city or state that has the ability to accept electronically transmitted funds.
Information You Need to Know:
- Student payroll direct deposit is optional.
- To set up direct deposit of your student wage checks, you must complete a Student Payroll Direct Deposit Authorization Form (pdf). The forms are also available in both student financial services and the payroll office. Return a completed authorization form to the payroll office.
- In order to sign up you will need to attach a cancelled check for a checking account or a deposit slip for a savings account to the Student Payroll Direct Deposit Authorization Form. Payroll will use the routing and account numbers located on these documents to set up direct deposit within our payroll system.
- You may only deposit your net pay to one account.
- It may take up to two pay periods for your direct deposit account to go into effect. The lag is due to the pre-note process in which your bank account information is validated for existence and correctness. Payroll will notify you via email the first week that your direct
deposit will be in effect.
- Paper advices will not be sent to your student boxes. Information regarding pay that has been directly deposited can be viewed on The Hub under the Pay Stub option. This information is available on your pay day and remains there as long as you have access to The Hub.
Changing Your Direct Deposit Arrangements:
- You must advise payroll to stop your direct deposit before you close your account. Otherwise, you will not be able to access funds on pay day.
- If you make a bank change or account number change to your direct deposit paperwork, you will be paid by paper check until new direct deposit information is processed. You will be notified by payroll via email when the new direct deposit takes effect.
If you need more information, please contact the payroll office.