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#2003286 - 03/23/15 03:21 PM Direct Deposits
swthomeala Offline
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Joined: Oct 2005
Posts: 39
Georgia
Our bank put out an email today to all bank employees - that if they did not currently have a checking or savings account with our bank - as of a certain date - they would be mailed a paper paycheck. They will no longer direct deposit to any other institution or payroll card. Can they do this? In all my compliance training I have always been told that an employee cannot be forced to use a specific bank when signing up for direct deposit. With that being - can we discriminate and say that we only offer direct deposit to those employees who bank with us? This is news to me. Just sayin . . .
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swthomeala

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Deposits and Payments
#2003291 - 03/23/15 03:31 PM Re: Direct Deposits swthomeala
osucpa Offline
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Joined: May 2011
Posts: 1,406
Most banks would like their employees to bank with them. My question would be, if receiving a paper check through the mail would it be received on the same date the funds are made available to the employees with checking accounts. This seems like a bigger headache for payroll than just sending payroll to any account.

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#2003292 - 03/23/15 03:33 PM Re: Direct Deposits swthomeala
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,225
Galveston, TX
They can't force you to receive your paycheck through direct deposit. There is also no rule that requires them to offer direct deposit other than at your bank. They can issue all the checks that they like. Not sure how that is cost effective however.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2003304 - 03/23/15 03:44 PM Re: Direct Deposits swthomeala
HappyGilmore Offline
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Joined: Jun 2004
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Pulling people out of the ditc...
seems like the bank is doing this to coerce employees to bank with them...i'd hate to be the bank trying to defend itself when an employee doesn't get their check for 2-3 days after payday if this is what they are doing (ie mailing on payday).

of course, one could always open an account at the place of employment and transfer the funds on payday...
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#2003326 - 03/23/15 04:26 PM Re: Direct Deposits swthomeala
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,225
Galveston, TX
Nothing like creating a worker friendly workplace and management wonders why their employees develop bad attitudes sometimes. Sounds like petty games being played by management to me. IMHO - It is just an ignorant move by management.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2003471 - 03/23/15 11:56 PM Re: Direct Deposits swthomeala
el guapo Offline
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el guapo
Joined: Jul 2004
Posts: 345
After seeing firsthand the large scale snooping into employee accounts at my last place of employment I will never maintain an account at the FI of my employment ever again.

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#2003498 - 03/24/15 12:45 PM Re: Direct Deposits swthomeala
HappyGilmore Offline
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Pulling people out of the ditc...
our employee accounts are restricted as to whom may view them, and a list is generated of all access - better have a great explanation if you show up on the list.
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#2003628 - 03/24/15 04:35 PM Re: Direct Deposits HappyGilmore
el guapo Offline
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el guapo
Joined: Jul 2004
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They had the same restrictions and monitoring in place, that's how the snooping was discovered by the person in charge of reviewing the report each morning and getting an explanation from the persons that viewed/transacted on employee accounts the previous day. It's a long and ugly story, but it very much convinced me that I don't ever want to have an account at the FI that I work for. Although this bank later implemented a policy that required everyone to have their accounts there, I just had an account to accept my direct deposit then transferred most of the funds out.

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