Setting up direct deposit into a new bank account in Workday involves a few steps. Here's a general guide, though specific steps may vary slightly depending on your organization's configuration:

1. Log In: Start by logging into your Workday account using your credentials.
2. Navigate to Pay: On the Workday homepage, look for the Pay worklet or search for “Pay” in the search bar.
3. Payment Elections: Once you're in the Pay section, find and click on Payment Elections. This is where you can manage your direct deposit information.
4. Add Account: To add a new bank account, look for an option such as Add Account or Add Payment Method. Click on this option.
5. Enter Bank Details: You will be prompted to enter your Wealthsimple chequing account details. This typically includes:
   • Account Type (Chequing)
   • Institution Number (703)
   • Account Number (8 digits)
   • Bank Name (Wealthsimple Investments Inc.)
   • Branch ID / Transit Number (00001)
   • Account Nickname: Optionally, you might be able to give this account a nickname for easy identification.
6. Distribution Elections: Decide how you want your paycheque distributed. You can usually choose to deposit all of it into one account or split it between multiple accounts. Allocate the appropriate percentages or amounts to your new bank account.
7. Confirm Changes: Review the information you’ve entered to ensure it’s correct. Once confirmed, save or submit your changes.
8. Verify Account: Some organizations or banks may require you to verify the new account by confirming small test deposits. If this is the case, follow the instructions provided to complete the verification process.
9. Complete Setup: Once everything is confirmed and verified, your direct deposit should be set up to go into your new bank account.

If you encounter any issues or your Workday interface looks different, we recommend reaching out to your HR department or Workday administrator for assistance specific to your organization.