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Direct Deposit

Direct Deposit

Deposit your employees' paychecks automatically in to any SEFCU account. Find out how!

Move Up to Direct Deposit. Your Employees Will Thank You.

Direct Deposit is a welcome addition to any employee benefits package and SEFCU makes it easy. Here's how it works: 

  • Direct Deposit can be offered to your employees whether you handle your payroll in-house or through a third-party payroll service. Your payroll system must be able to produce a Direct Deposit file in a special ACH (Automated Clearing House) format for delivery to the Originating Depository Financial Institution (ODFI). The ODFI may be your payroll company or the financial institution your payroll is generated from.
  • For Direct Deposit to be successful, you must have the routing and transit number of the employee's financial institution (SEFCU), the employee's account number, and the type of account (Savings or Checking). Your payroll processor, your ODFI, or SEFCU can provide the appropriate Direct Deposit authorization forms. 
  • To test the accuracy of the employee's financial information, you can send Direct Deposit entries with zero dollar amounts (called "prenotes") 10 days ahead of the first Direct Deposit. Your ODFI will notify you if the information needs to be corrected.
  • When the Automated Clearing House receives the actual ACH file, it is sorted by routing number. The ACH then forwards the file to SEFCU, where the funds are deposited to the appropriate employee accounts.

Start offering Direct Deposit Today!