Since everyone's pay goes into their internal bank account. There have recently been concerns that employees are looking at each other's account to determine how much they are paid. We are working to limit access to employee accounts, but are curious about how other banks limit this access. Are Deposit and Loan Operations and Tellers exempt from this access, or do you only allow key individuals in each area to service these accounts? Thank you for your input.

NO ONE except HR and Internal Audit have access to view our employee accounts that are designated for payroll.

Any employee account is coded as such. This limits everyone's ability to see activity within the account. For example, tellers can only see balances. Only branch managers can see transactions with an employee's accounts. Internal investigations monitors employee activity; only certain investigators within the department can see transactions.

Depending on your system you should be able to see who is looking at what and when. I'd say it's pretty serious (and they should be disciplined) if employees are just randomly looking at accounts of other employees without a legit business reason aka just to be nosy!

If all of your payroll is done via direct deposit, you also have to consider who has access to the ACH warehouse report. They can see every incoming and outgoing ACH item on that report, including payroll. It's a necessary report for Operations to have access to, so it can't be limited to only HR.

On a slightly-related tangent: someone's direct deposit doesn't necessarily reflect their true salary. 401k contributions, insurance choices, partial deposits to other accounts (or other banks), charitable contributions, direct loan payments, wage garnishment, etc. can all make your deposited paycheck smaller, even if you are paid more than someone with a higher deposited paycheck who doesn't have those things removed from their pay. Also, some people fudge their exemptions, which could make their pay appear higher or lower based on those calculations, but effects how much they owe on April 15th instead. So comparing their take-home pay to another employee doesn't always give them an accurate comparison of salaries (though the employee that is looking at other employees' paychecks probably doesn't realize that).

My past experience is this is a core system issue and the ability to grant access to only certain individuals. I would have HR send out an e-mail advising employees they are never to review another employee's account without a purpose.

I agree, access to employee accounts should be limited. Additionally, if a specific employee is concerned, then they should have thier paycheck automatically deposited elsewhere. Reg. E will not allow you mandate that they have an account at your institution for payroill deposits.

It is customary to limit who can view employee accounts and what can be viewed. When addressing the issue remind employees, even those authorized, that employees with accounts are customers and viewing customer data is on a need to know basis only subject to GLBA. it is a violation of federal law to just peruse accounts.

Same here.

I do not bank where I work. It is simple as that. Won't EVER bank where I work. I don't want them in my financial business for ANYTHING. Too small of a community.

Really? As far as I know, our credit union states that all payroll is deposited into an account within the institution. I'm almost sure it is in the employee handbook....

Do you have an option of getting a paper check vs. direct deposit? Or do they require direct deposit, into an account with your CU? I'd suggest a conversation with HR after reviewing the handbook.

I specifically recall being told I needed to open an account when I started working here, that was a few years prior to moving in this position. They have since changed the way the discussion is held and make sure not to even imply that the account is necessary to have payroll deposited into. That being said, I don't believe we have any staff that have elected to send their deposit elsewhere, which amazes me.

I review a report daily that shows if an employee account has been accessed by another employee. If I find where an employee has looked up another employees account I review to see what was looked at or what was done. Unauthorized access is not tolerated.

Jenny, I am with you!

Part 1005.10 of the CFPB's version of Reg E:

e) Compulsory use. (2) Employment or government benefit. No financial institution or other person may require a consumer to establish an account for receipt of electronic fund transfers with a particular institution as a condition of employment or receipt of a government benefit.

They have to give you the option to have it deposited elsewhere or to get a paper check.

I work in a small community bank and I have seen employee statements sitting in the printer. I have never banked where I work and never will.

Ditto that, well, I do have the obligatory savings account to get stock.

so, what does it say about the banking industry that so many compliance people refuse to bank where they work?

It says that compliance people feel the same way about privacy as "civilian" customers do, and understand too well just how micro-managed bankers spend a lot of time monitoring things that they never monitored before. The two views are incompatible, so they look elsewhere for their banking services.