Benefits to employees include convenience, security, reliability and confidentiality.
- Convenience: Money will be in your account whether you are on vacation, sick or just too busy to deposit a check.
- Security: When there is no check there is no threat of theft or potential for loss.
- Reliability: Deposit will appear on your pay stub and can be confirmed by calling financial institutions or verifying balances online.
- Confidentiality: You will receive an email with a .pdf file of your pay stub. This will be secured by a password.
Benefits to Grand Valley include cost-savings and efficiency.
- Cost-savings: The university eliminate the cost of paper checks, bank fees, printer, toner and sealing equipment.
- Efficiency: Direct deposit eliminates the processes of printing, sealing, sorting, distributing, reconciling and replacing paychecks. Direct deposit is automated. Pay stubs will be sent via e-mail to employees and their history will eventually be available online.
Direct deposit will save Grand Valley about $115,000 annually. For more information, visit the Web site: www.directdeposit.org. For GVSU direct deposit forms, visit www.gvsu.edu/busfin and click on "Forms."
