Below are Frequently Asked Questions regarding the Direct Deposit system for employees at Marklund:

Q. How do I set-up my direct deposit?

A. In order to set up your direct deposit – you have to complete a paper Direct Deposit Authorization form. Located at the front desk or on the Common Drive.

Please send the completed form (with voided check or other form of back up documentation from your Bank) to Payroll, or fax it to 630-593-5501.

Q. When sending a Direct Deposit Application, should I attach the voided check or other documentation to the form?

A. Yes, a voided check or a Direct Deposit set-up form from your bank is necessary to ensure sure your money goes into the correct account. Please make sure all attachments sent with an authorization form are attached by using a staple or paper clip  to ensure that they are received together. This will prevent a delay in processing the request.

Q. After I submit my Direct Deposit Application, how long before it is effective?

A. A minimum of two weeks. Direct Deposit account information is submitted with the next payroll that is processed, as long as it is changed before payroll is submitted. Payrolls are processed approximately 2 business days before payday, excluding bank and university holidays. For that pay period you will receive a live pay check. The following pay check will be deposited directly into your bank account.

Q. How do I edit my direct deposit?

A. Submit a Direct Deposit status form reflecting your changes. This will automatically override or delete the existing information in the system.

The status forms are located at the front desk of both MPC and MHC.

Q. How do I add a bank account?

A. Please complete a Direct Deposit Authorization form for the new account(s).

Q. How many bank accounts can I have?

A. You can have one ‘Main Bank’ account, and up to nine ‘Other Bank’ accounts. This can be any combination of checking/savings/pay cards and any combination of Federal Reserve approved banks.

Deposits to all ‘Other Bank’ accounts must be flat dollar amounts.

Q. If I close my account at my bank, do I need to notify Marklund?

A. Yes. Please complete a Direct Deposit status form, indicating you want to close your current ‘Main Bank Account’.

Please note that because direct deposit is mandatory at Marklund, you must provide new ‘Main Bank Account’ information when cancelling your current ‘Main Bank Account’ or you will be issued a Global Cash Pay card.

Best practice is to cancel through Payroll prior to closing your account with your financial institution. This helps prevent delays in recovering monies that may post to the closed account. In order to avoid your pay check being deposited into the closed account, please make any changes at least 5 business days before the pay date.

Q. What will happen to my paycheck if I cancel my account with my financial institution but don’t cancel my direct deposit with Marklund prior to payroll being submitted?

A. Your paycheck will automatically be sent as though the account were open. This will cause a delay in recovering the money that is owed to you. The bank will return the money to Paylocity, who will then notify us. The money will be returned to Payroll and the process for rewriting the check will begin. This process can generally takes a 3-5 days once the money has been returned to Payroll.

Q. Where can I get an additional supply of the direct deposit forms?

A. An electronic copy of the form can be found on the “U” Drive. Under HR Forms. (HRF0020) Paper copies can be found at the front desk at MPC and MHC.

Q. If I have been gone for a period of time (or terminated employment) and return to work, do I need to complete a new form?

A. No. The direct deposit authorization remains active during this period. Please note that if your bank information has changed, it is imperative that you change this information prior to starting your new position.

Q. If I send a Direct Deposit Form to the Payroll Department without all the correct information supplied, will I be notified that the form is incorrect?

A. Yes. If we receive an incomplete or incorrect form, Payroll will return the form to you to make the necessary corrections. Please note that this will delay any entries into the system.

Q. Is it possible to have my paycheck directly deposited into another person’s account?

A. Yes. If you choose to have your check deposited into another person’s account, complete the form per regular procedures. ** Please note that you should communicate with the other person’s bank to let them know these deposits will occur. Some banks will return the deposit if the name on the account and the name on the deposit do not match. Also, if a pull-back of funds is needed for any reason, we are unable to pull back monies from the other person’s account.

Q. Is it possible to have my check deposited into any Financial Institution?

A. Yes. The Financial Institution must be an ACH affiliate recognized by the Federal Reserve. If you are unsure whether your Financial Institution is an affiliate, please contact your Institution directly for confirmation.

Q. Who should I contact if I have questions regarding direct deposit?

A. Questions or concerns can be addressed to Shannon Gardner in the Payroll department:

Shannon Gardner
Phone 630-593-5460
Fax 630-593-5501