Exciting News! Beginning January 17, 2013, student employees and Federal Work-Study Recipients signed up for direct deposit on GROWL will also have their paychecks direct deposited. This means one single place to sign up for direct deposit for both student account refunds and payroll. No more standing in line on payday to pick-up paychecks. If you are not signed up for direct deposit on GROWL, sign-up today. It’s safe, fast, and free!
All financial aid and graduate/postdoctoral fellowship disbursements (credit balance refunds) through the UCR Student Student Information System (SIS) will be available through DIRECT DEPOSIT. What is DIRECT DEPOSIT? It is the electronic deposit of funds directly into personal bank accounts, which will allow you to have access to your money faster and more conveniently. DIRECT DEPOSIT may be used for checking or savings accounts at any bank or credit union in the United States.
DIRECT DEPOSITS will begin to be disbursed on the first day of the quarter, as published in the Schedule of Classes. You will be notified of any Direct Deposit transactions via your monthly Statement of Account.
To ensure DIRECT DEPOSIT is effective for the first disbursement, your bank account information must be submitted three weeks prior to the start of the quarter. Please submit by March 15, 2013 for the Spring 2013 quarter. Any authorization forms submitted after that date will not be in effect for the first quarterly disbursement.
*Direct deposits for the Spring 2013 quarter should be disbursed into bank accounts beginning March 27, 2013...provided all requirements have been met.
TO ENROLL IN DIRECT DEPOSIT, GO TO GROWL.
Please be advised beginning on January 17, 2013, direct deposit banking information in GROWL will automatically update the UCR payroll system for student employees and Federal Work-Study recipients. All future paychecks will be electronically deposited into the designated account.
What I need to do? Review your bank information on GROWL (select the Direct Deposit option on left under Student Business Services/Cashiers) to ensure the accuracy of banking information by January 10th to ensure the appropriate data is passed on the payroll system. If corrections are needed, updates can be made directly in GROWL; please note that it may take up to 10 business days for changes made in GROWL to be reflected in the payroll system.
What if I am already signed up for direct deposit in the UCR Payroll? If you are already enrolled in direct deposit on UCR Payroll, then no action is required. We will only send bank information from GROWL to UCR Payroll for student employees and Federal Work-Study recipients not currently enrolled in direct deposit for paychecks.
What should I do if I do not want my payroll check deposited to the same account as designated on GROWL? Go to GROWL (select the Direct Deposit option on the left under Student Business Services/Cashiers) and check the box to prevent your bank information from being sent to the payroll system by January 16, 2013.
Why is this change occurring? This change is necessary to prepare for the more frequent payments associated with the bi-weekly payroll cycles that will be implemented for most student employees. Electronic deposits are more sustainable and efficient than paper checks; will cut down on lines to pick up Federal Work-Study checks; and should eliminate lost and stolen checks.
Questions regarding this change should be directed to sbsofc@ucr.edu or 951-827-3204.
Notice to Students Who Receive Direct Deposits
The University of California is obligated to comply with the requirements of the United States Department of Treasury Office of Foreign Assets Control (OFAC), which oversees payments sent outside the territorial jurisdiction of the United States. This includes automated clearing house (ACH) payments, such as direct deposits of payments to students. Effective September 18, 2009, the University is obligated to identify as an “International ACH Transaction” (IAT) any direct deposits that are (1) made by the University to a financial institution located outside the U.S. or (2) made by the University to a domestic financial institution if that financial institution immediately transfers the full deposit amount to a financial institution outside the U.S. in a “back-to-back” transaction.
If you have instructions with your recipient bank to immediately wire the full amount of the direct deposit to a foreign bank, we request that you complete a form that provides further details about the foreign transaction. The form, with instructions on completion and where to return, may be accessed here IAT Form.
To comply with the OFAC requirements going forward, the University will require that students confirm, at the time that they request direct deposit of their checks be set up, that the direct deposit is being made to a domestic financial institution and will not be part of a back to back transaction to a foreign institution.