Overview

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.

Setting up direct deposit with Payworks

1. Log In: Log in to your Payworks account.
2. Go to the Direct Deposit Section:
   1. On the Payworks home screen, select the Profile tile
   2. Expand the Direct Deposit section
3. Add a new bank account:
   1. Navigate to Update Account Information
   2. You'll 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 bumber: 00001
      • Routing number (if applicable: 070300001
4. Review and confirm: Carefully review the information you have entered to ensure it is correct. Click Save to confirm your changes.
5. 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.
6. Confirmation and Notifications: Your payroll administrator has to approve the direct deposit change for it to take effect. While pending approval (or rejection), you can't edit the direct deposit change. Once approved, the last four digits of the updated bank account information will display in the Current Account Information field.

Where to go for help

If you have any issues or your Payworks interface looks different, contact your HR department or Payworks administrator for help with your organization's specific setup.