Federal Banking regulations require that the university notify an employee before reversing direct deposit funds from their bank account.
To reverse a direct deposit complete the Payment Election Reversal Form and submit it to Payroll Services within 5 business days of payday.
See Also
Payment Reversals Explained (And 10 Ways to Avoid Them)Oops! Did you make the wrong bank transfer? Here's what to do next to get your money backWhat is Card Reversal in Retail - Acid Point of SaleCan a refund be cancelled? | CardinityThe form includes three options available when reversing a direct deposit.
- Option 1: Reverse the direct deposit and issue a replacement check immediately. If this option is selected you will also need to submit a manual check request form with the direct deposit reversal form.
- Option 2: Reverse the direct deposit and issue a replacement check after receiving confirmation from the university’s bank is received. It may take 3 – 5 banking days to receive confirmation from the bank. If this option is selected you will also need to complete a manual check request form with the direct deposit reversal form.
- Option 3: Reverse the direct deposit and do not issue a replacement check.
