Direct Deposit

VANDERBILT UNIVERSITY PEOPLE EXPERIENCE POLICY
SUBJECT: Direct Deposit
EFFECTIVE DATE: January 1, 2017

1. INTRODUCTION

As a condition of new or continued employment, all individuals paid through Vanderbilt University’s payroll system must participate in the University’s Direct Deposit program, unless falling within an exception set forth in section 2 of this regulation.

2. EXCEPTIONS

2.1. Because U.S. banking institutions generally require a valid Social Security number for mandatory federal reporting purposes, foreign nationals who experience a waiting period before being issued a Social Security number (SSN) may encounter difficulty in opening a U.S. bank account. Such individuals will be paid temporarily by paper paychecks but are required to enroll in Direct Deposit as soon as their SSNs are issued.

2.2. A one-time payment to an individual, such as an honorarium to a visiting foreign national, may be exempted if the Director of Payroll deems direct deposit enrollment impracticable.

2.3. Other exceptions will be considered only for compelling reasons by the Vice Chancellor for Administration, upon recommendation of the Director of Payroll.

3. DEPOSIT OF PAY TO A FOREIGN ACCOUNT

In accordance with federal regulation, if you forward the entire amount of your Vanderbilt payroll direct deposit from your U.S. bank to a bank in another country, you must advise University Payroll, and Payroll notifies the U.S. Treasury Department.

4. ENROLLMENT & ACCOUNT INFORMATION

4.1. Individuals must enroll for Direct Deposit at the time of hire, typically on the first day of employment.

4.2. Individuals may designate up to 8 total accounts (which may be at one or more financial institutions) for Direct Deposit.

4.3. Student workers who have enrolled in Direct Deposit through YES (Your Enrollment Services) will need to enroll separately for Direct Deposit through Vanderbilt University’s payroll system as these systems do not share your direct deposit information.

5. RESOURCES

Questions concerning the Direct Deposit program should be directed to the Payroll Department at (615) 343-4788.