Important Announcement: Change in Direct Deposit Funds Availability
JP Morgan Chase, the bank that distributes our payroll funds to our employees’ banks for direct deposit, has recently made a national business decision that may impact the timing of your access to IU payroll funds.
Effective March 18, 2016, Chase began to process all ACH files (including IU payroll files) one day before the effective date of the payments (payday), rather than the two to three days in advance of the effective date as it had done in the past.
The practical effect of this change is that your payroll direct deposits to your bank/credit union accounts or payroll cards may no longer be available to you until payday.
In the past, many banks would allow you access to your payroll funds up to three business days before your official payday. This practice is changing within the banking industry, and most banks will no longer provide you access to your funds prior to payday. Banks are not required to make funds available until the actual pay date. This is a process change that is totally at the discretion of individual banks and is not a decision Indiana University can directly impact.
Please understand that IU has not changed its payroll processes or payment schedules. We will continue to send our payroll files to Chase for processing three or more days prior to payday, and we will continue to fund payroll on each payday. However, we cannot ensure your access to payroll funds prior to your payday.
The resources below are intended for employees of Indiana University.
|New Employee Tools||An overview of information of interest and resources available to new IU Employees.|
|Direct Deposit Information||Instructions to sign up for payroll direct deposit.|
|My Current Timesheet||Visit your Kuali Time timesheet for the current period (staff using Kuali Time only).|
|ePTO||Visit the current month's ePTO calendar (staff using ePTO only)|
|Pay Date Schedules||View the payroll calendar of pay dates for monthly and biweekly paid employees.|
|Employee Tax Resources||Various tax-related resources for Employees.|
|Paycheck Modeler FAQ||A financial planning tool that will allow you to calculate your potential take-home pay based on a variety of scenarios.|
|Saving Tool FAQ||A financial planning tool for faculty paid over 10 months of the calendar year (A10).|
Can’t find what you’re looking for?
- Looking for work study information? This information is available from the Office of Financial Aid.
- For job postings, benefits administration and staff policies please visit University Human Resources.
- For Auxiliary Accounting, Capital Assets or Accounts Receivable information please visit the Office of the Treasurer.
- If you're not sure where to find the information you're looking for ask us here.