Active: The employee bank account is active, ready for direct deposit, and will not require a confirmation from the banking institution. We recommend using the prenote status for all new accounts to ensure accurate account information; see the next status.
Prenote: This type will send a test file to the banking institution. The employee will receive a live check until the banking institution has provided confirmation of an active account.
- It can take 1-3 payroll cycles before the account has been verified and activates.
Inactive: No deposits will be made to this account. It is no longer in use.
Checking: Checking accounts are primarily for accessing money for regular use.
Savings: Saving accounts are primarily used for saving funds.
Prepaid Card: Funds are loaded onto the prepaid card.
Employee Bank Account - Sequence
1, 2, 3 (Numbered): Used for partial direct deposits by order of importance. One being first. After assigning sequence 1, an additional field will appear, allowing you to input the Dollar Amount/Percent the employee has requested to be deposited into the account.
Remaining Net: One direct deposit account for the entire employee net pay or the last account to receive the remaining net pay after partial direct deposits (dollar amount or percent).
Billy Business would like to have (1.) $50.00 of each check deposited into a Savings account, (2.) $100.00 into his child’s college fund, and (3.) the remaining Net Pay into his checking account. The setup is shown below: the Savings account ($50) is sequence 1, the College account ($100) is sequence 2, and the checking account would have the sequence of Remaining Net.