Employee EFT is not in account

Tasks

  1. Open the Payroll Reports page.Closed From the Reports menu, select Payroll Reports.
  2. Review the Executive Summary in the Standard Reports Package to confirm if there are any warnings regarding the EFT information. The payment may have been processed as a cheque.
  3. Confirm the accuracy of banking information keyed to the void cheque on file from the employee.

    1. The customer should confirm with the bank to determine if all EFTs have been posted.

    2. If the EFT was deposited to an incorrect account in error (I.e. valid banking keyed to the wrong employee), contact your Customer Support Team to request a trace be placed on the EFT. Quote reason "Payee name and Account holder name differ."

    1. The payment will reject if the bank account on file is not a valid account.
    2. Dayforce's Trust department will contact you once we receive notification from the bank of the reject.
      • An email will be sent to the contact identified with Dayforce to receive EFT/Stop/Reject reports. Contact your Customer Support Team if this is not in place.
    3. Dayforce will receive notification within 1 to 7 days of payment date depending on which bank the employee deals with.
      • If notification from the bank is not received, the customer should request an EFT trace on the payment to determine what happened to the payment. Contact your Customer Support Team.

    4. Do not pay the employee until notification of the reject has been received. If you choose to do so before this is confirmed, you run the risk of paying the employee twice, as it is possible that the EFT will be posted but is delayed for some reason.

      The options to pay the employee are:

      • Issue a payment with an in-house cheque.
      • Process an extra run to provide the net amount to the employee.
      • Include the net amount with the next processing run to re-issue the payment. If you require further clarification of this option, please contact your Customer Support Team.

    Important: Direct deposit activity to a fraudulent bank account cannot be retrieved by Dayforce. Customers must contact the fraud or security divisions of their business bank branch to discuss options.

    Fraudulent activity may occur when:

    • An employee’s email account is hacked, and their contact information is stolen.

    • A hacker sets up an email account that is very similar to the employee’s address and the employee’s name is accurate. The hacker then uses the new fraudulent account to contact the Payroll Admin to advise that they have a new bank account.

    • The Payroll Admin changes the bank account in good faith but does not verify the email address.

    To reduce potential exposure, we recommend taking the following security measures within your organization:

    • Set up Multifactor Authentication (MFA)

      • MFA is free-of-charge and provides an extra security layer for user logins and to help protect against credential theft and fraudulent behavior.

      • Ensure users verify their identity by first entering their username and password and then entering a time-based, one-time code that they receive by text message or voice call

      • Contact your Customer Support Team to enable this functionality for your payroll.

      • More information on MFA can be found here.

    • Employ Best Practices for Password Policy

      • Enforce strong passwords, including passwords with complexity, length, and expiration dates

      • Engage in user education to ensure employees understand and apply the password policy

      • Remind users that there is no legitimate reason for a person inside or outside your organization to request their password through email or SMS.

      • For more information on password policies, see Password restrictions and guidelines and Password ideas.

    • Notification Emails

      • Verify that Powerpay emails are delivered to end users and not blocked by email security systems.

    • Employee Education

      • Train employees regularly on the risks of phishing emails and the importance of not clicking on suspicious links or sharing credentials.

      • Instruct employees to bookmark the Powerpay Self Service site at first login to decrease the likelihood that they accidentally go to a lookalike site.

      • Warn employees to check the browser bar when they access the site to ensure they are going to the right domain.

      • Alert employees to pay attention to notifications.

    • Secure Communication

      • Encourage employees to communicate any payroll changes in person or through a secure, official channel.

See also