Set up direct deposit for employees

If your company has been approved for direct deposits, you must enter your employees' banking data and payment instructions into Powerpay for your employees to be paid by direct deposit. If no banking information is entered for an employee, that employee is paid with a paper cheque.

Powerpay can also be configured to import employee information from recognized workforce management systems. Contact your Service Delivery Team (click the Contact Us link) for more information.

1. Navigate to the Compensation tab. From the People menu, select People List > Compensation.

2. Select the employee for whom to set up direct deposit from the People List.
3. Go to the Banking Information section.

4. Ensure the Enable Deposit check box is selected.

5. Enter the employee’s banking data from the employee’s void cheque:

   • Financial Institution - From the list, choose the name of a financial institution.

   • Transit No. - Enter the 5-digit transit number that corresponds with the selected financial institution.

   • Account No. - Enter the account number.

   For more information see, Reading information from a void cheque.

6. Click Save.

   Powerpay saves the data and displays it.

7. If an employee requests that their payment be divided and paid into more than one account, click Add Additional Deposit. Ceridian can make direct deposits to a maximum of six accounts for each pay period. For more information see Enabling additional direct deposits for an employee.

   A new line is available in the Banking Information list.

8. From the Priority list, select the priority of this additional deposit.

9. Ensure the Enabled checkbox is selected.

10. Enter the banking data from the person’s void cheque:

    • Select a Financial Institution from the list.
    • Enter the 5-digit transit number that corresponds with the selected financial institution.
    • Enter the account number.

11. Select a deposit type, Dollar or Percentage and enter the amount to deposit.

    • Select Dollar to specify an actual dollar amount to be deposited in the additional deposit account for each pay period. In the Amount field, enter the dollar amount.

    • Select Percentage to specify a percentage of the payment that should be deposited in the additional deposit account for each pay period. In the Amount field, enter the percentage

      Note:

      • When Percentage is selected, the percentage refers to the amount remaining net pay to be deposited, not the entire earnings.

      • The maximum deposit value for an additional deposit is $99,000.

12. Click Save.
13. Repeat steps 5 to 12 for each additional direct deposit account.

Tip: To disable a Direct Deposit, remove the checkmark from the Enable Deposit box.