Setting Up or Changing Your Direct Deposit Bank Information

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1 Setting Up or Changing Your Direct Deposit Bank Information To set up or change your direct deposit bank information, you need to complete a Finance 224 form, which is a template on the Cooperative Extension Service website, and send it along with a copy of a check (write void across the face of the check) or deposit ticket (if the account is a savings account) for each account to: U of A Cooperative Extension Service Attn: Linda Meeks, Financial Services 2301 South University Avenue Little Rock, AR Complete the form as follows: 1. Check the appropriate box at the top of the form to indicate whether the change is a new enrollment, change, or stop. 2. Enter your name on the line next to Employee Name. 3. Enter your employee identification number on the line next to Employee I.D. If you do not know your employee identification number, leave this field blank and Financial Services will fill it in. 4. Enter a daytime phone number where you can be reached on the line next to Daytime Phone #.

2 5. In the Payroll Authorization section of the form, enter the bank information as follows. You may elect to split your payroll between several different bank accounts. The Banner system processes the split payment by Priority Number according to the instructions you indicate on the form (see numbering system next to the Bank Name). In this example, John Doe wants 10% of his total payroll to go to his savings account at the Federal Credit Union first (1.). Then he has designated $50.00 to go a savings account at Simmons First National Bank (2.). Finally, he has designated that the remainder of his check (100%) go to his checking account at Metropolitan National Bank (3.). The last bank in the split should always be 100% because that is where the remainder of any funds left after the previous transactions have been processed. Please do not put a dollar amount in the remainder bank because if your payroll amount changed, Banner would not know where to apply any difference. (a) For each bank account, enter the bank s name on the line next to Bank Name.

3 (b) Enter the bank routing number on the line next to Bank Routing Number. Your bank s routing number is the first nine digits in the numbers in the MICR line at the bottom of your check (see example below). If the account is a savings account, the bank routing number should be at the bottom of your deposit slip. Please do not use a deposit slip for a checking account because the first nine numbers on your deposit slip for the checking account may or may not be the same as the first nine numbers on your check. (c) Enter your checking account number on the line next to Account #. Please make sure that you do not include the check number as a part of the account number.

4 (d) Enter the state where your bank is located on the line next to State. (e) Put an X in the box indicating whether the account is a checking or savings account. (f) Put either a % on the line next to % or a dollar amount on the line next to $. If you are only designating one account for your payroll, you should enter 100% on the line next to %. If you are designating more than one account for your payroll, you would enter the bank information for each of the accounts in the priority that you want them to be split, but your last bank account (remainder bank) should be set for 100%. See discussion and example in #5. (Percentage) (Dollar Amount) (Remainder Bank Account-Always 100%)

5 6. In the Travel/Personal Reimbursement Authorization section of the form, enter the bank information as follows. You may only designate one bank account for your travel or personal reimbursement. (a) Enter the bank s name on the line next to Bank Name. (b) Enter the bank routing number on the line next to Bank Routing Number. Your bank s routing number is the first nine digits in the numbers in the MICR line at the bottom of your check (see example below). If the account is a savings account, the bank routing number should be at the bottom of your deposit slip. Please do not use a deposit slip for a checking account because the first nine numbers on your deposit slip for the checking account may or may not be the same as the first nine numbers on your check. (c) Enter your checking account number on the line next to Account #. Please make sure that you do not include the check number as a part of the account number.

6 (d) Enter the state where your bank is located on the line next to State. (e) Put an X in the box indicating whether the account is a checking or savings account. 7. Sign and date the form on the lines at the bottom of the page. Special Notes: All new employees are required to set up direct deposit for both Payroll and Travel/Personal Reimbursement as a condition of their employment. If you do not indicate an account for your Travel/Personal Reimbursement, Financial Services will use the same bank information for your Travel/Personal Reimbursement that you have provided for your remainder bank on your Payroll Authorization. If you have to close a bank account after you have set up direct deposit, please notify Financial Services immediately so that we can inactivate that bank account. Payrolls are run at least 2 or 3 days in advance of the payday, so please respond quickly. Contact Linda Meeks at or [email protected] or Ronia Bullard at or [email protected].