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Direct Deposit

Direct Deposit is an employee benefit offered at Mount Saint Mary's University. With Direct Deposit, you have all or part of your paycheck deposited into your checking and/or savings account without the inconvenience of having to rush to your bank on payday or coming in to pick up your check when you are off of work.

What is Direct Deposit?
Direct Deposit is the process of automatically transferring earnings via a highly reliable electronic payment system (called the Automated Clearing House (ACH) Network) into an employees' savings and/or checking accounts.

How does Direct Deposit work?
First, complete the Authorization Form and attach a voided check. As payday nears, we will electronically forward information regarding each employee's earnings for that period to the F&M Bank, which will process and send the information to an Automated Clearing House (ACH). The ACH will forward payment data to the employees' individual bank and will automatically be deposited into the employees' accounts on payday. (Your first pay after signing up for direct deposit will be a regular paycheck. We have to test the routing and account numbers for accuracy).

How many accounts or banks can I Direct Deposit to?
You may sign up for as many accounts or banks that you choose provided that your bank accepts Direct Deposit (Most banks accept Direct Deposit but some money market and trust accounts do not accept Direct Deposit). Some employees choose to have a percentage or dollar amount of their earnings deposited into their savings account and deposit the remainder of their earnings into their checking account.

Can I have a portion of my check Direct Deposited?
Yes, you may have a portion of your earnings Direct Deposited to an account and still receive a paycheck for the remaining balance.

What are the benefits of Direct Deposit?

  • Convenience: You no longer have to visit a bank to deposit a payroll check. Direct Deposit eliminates the need for people who travel, work alternative shifts or are on vacation to make special arrangements to deposit their checks. Also, you won't have to worry about getting to your bank on those wintry days when its difficult to travel.

  • Safety: Errors with Direct Deposit occur very rarely, but if they do, banks have trained personnel and established methods for tracing any problems that may arise. More important, electronic payments are never lost, misplaced, or stolen.

  • Interest Earning: Since employee earnings are deposited directly on payday, they begin collecting interest immediately on earnings deposited in interest-bearing accounts.

How will I know how much Money is being Deposited into my Account?
You will receive a Pay Advice (it looks very similar to a paycheck) from the Mount giving you complete information including the amount deposited into each bank account. Your Pay Advice will contain the same information that is now contained on your paycheck earnings statement.

How do I go about getting cash on payday since I will not be going to the bank to deposit my payroll check?
The same way you get cash between paydays now. You can write yourself a check or use an Automated Teller Machine (ATM).

I consider my income a confidential matter. Will Direct Deposit infringe on this confidentiality?
No. The payroll information which goes from the Mount to the F&M Bank is highly secure.

What information do I need to give to the Mount to start the Direct Deposit service?
You need to complete the Direct Deposit Authorization Form and attach a voided check to it. (If you are depositing to a savings account, make sure you verify your routing number and account number with your bank because what appears at the bottom of your savings deposit slip is not always the correct numbers).

After becoming a participant, may I change my authorization?
If you change accounts, you simply need to complete a new Authorization Form. Depending on the change you make, your deposits may be interrupted for more than one pay period while the change is being processed.

What if I started Direct Deposit and want to stop it?
If you've decided to stop Direct Deposit, you simply need to complete a new Authorization Form and check off which account(s) you wish to stop.

If you have any other questions, please contact us at

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