Setting up direct deposit into a new bank account in Payworks involves a few steps. Here's a general guide, though specific steps may vary slightly depending on your organization's configuration:
- Log In: Start by logging into your Payworks employee portal using your username and password.
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Navigate to the Direct Deposit Section:
- On the Payworks home screen, select the Profile tile
- Expand the Direct Deposit section
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Add a New Bank Account:
- Navigate to Update Account Information
- You will be prompted to enter your Wealthsimple Cash account details. This typically includes:
- Bank Name (Wealthsimple Investments Inc.)
- Account Type (Chequing)
- Institution Number (703)
- Account Number (8 digits)
- Branch ID / Transit Number (00001)
- Routing Number (if applicable) (070300001)
- Review and Confirm: Carefully review the information you have entered to ensure it is correct. Click Save to confirm your changes.
- Verification (if required): Some banks or employers might require you to verify the new account. If this is the case, follow the instructions provided to complete the verification process.
- Confirmation and Notifications: Your payroll administrator has to approve the Direct Deposit change in order for it to take effect. While pending approval (or rejection), you cannot edit the Direct Deposit change. Once approved, the last four digits of the updated bank account information displays in the Current Account Information field.
If you encounter any difficulties or the steps look different based on your company's specific Payworks setup, we recommend contacting your HR department or Payworks administrator for further assistance.
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