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Duke employees have the opportunity to avoid long lines at the bank and
benefit from a more convenient and safe way of getting paid by participating in
Duke's direct deposit program. |
Direct Deposit Saves Time and Provides Peace of Mind
Each year, employees paid by paper checks spend the equivalent of three workdays going to the bank and waiting in line to deposit their paychecks. Duke employees have the opportunity to avoid the long lines and benefit from a more convenient and safe way of getting paid by participating in Duke's direct deposit program.
Alan Mong, staff assistant with the Fuqua School of Business, can personally attest to the benefits of direct deposit. Before coming to Duke, Mong worked in banking and witnessed the problems associated with a traditional paycheck.
"In addition to the long lines, I heard many stories about people who lost or had their paychecks stolen because they were still receiving paper checks," said Mong, who has used direct deposit since coming to work at Duke. "Participating in direct deposit eliminates the need for me to take a trip to the bank, and I don't have concerns about someone else ending up with my paycheck. If I am out sick or on vacation, I have peace of mind knowing that my pay is automatically transferred safely into my bank account."
Direct deposit provides the convenience of having your paycheck electronically deposited into your checking or savings account on payday. Duke strongly encourages faculty and staff to take advantage of direct deposit because of the many advantages it offers. In addition to being convenient and saving time, direct deposit is also a more reliable way of receiving pay.
"Through my experience, both at the bank and here at Duke where I am involved in the payroll process for our department, people are more likely to have a problem with a check versus direct deposit," said Mong.
Problems with direct deposit are usually resolved quickly, compared to problems with checks that may take a longer period of time to correct, and therefore a longer period of time before employees receive their pay. In addition, direct deposit is one of the most confidential ways to process a paycheck. Despite the perception by some that direct deposit is not as confidential as a paycheck, the truth is that a check passes through many more hands than an electronic transfer.
To enroll in direct deposit, employees can complete the
Direct Deposit Authorization Agreement. After completing and signing the form, employees will need to attach a voided check from their financial institution and return the materials to Corporate Payroll Services by mail or in person to 705 Broad Street, Room 103, Box 90484.
For more information about direct deposit, please visit the
Payroll FAQ.
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