Number: 
03-140-201
Type: 
Rule
Policy Steward: 
Director of Vendor Payment Strategies
Format Updated: 
University Policy & Standards Converted: 
Status: 
Current
Revision Date: 
Thursday, August 26, 2010

This information replaces FIS 404 Automated Clearing House (ACH) Payments

 

OSU encourages employees and vendors to have reimbursements or vendor payments deposited directly into the employee’s or vendor’s bank account via automatic clearing house (ACH) processing.

  1. Employees may sign up for Direct Deposit Online via OSU Online Services by selecting Personal Information and View or Update Direct Deposit Authorization.  There are two sections – the top section is for Student Accounts/Employee Payables, and the bottom section is for Payroll.  No attachment is required for online setup.  Alternatively, employees may complete the Direct Deposit Authorization form and submit it to Accounts Payable with a voided check or deposit slip.  Reimbursements may be deposited to either your checking or savings account.
  2. Vendors may sign up for Direct Deposit by using “Vendor Direct Deposit Authorization” and submitting the form to Accounts Payable with a voided check.
  3. There is a required pre-note process that verifies with the bank the supplied banking information.  This process can take two weeks.  Payments will continue to be made by check until the account verification process is complete.
  4. Once the pre-note is completed, payments will be directly deposited to the bank account.  The employee or vendor will receive an email notification of the direct deposit when the transfer of funds is made.
  5. OSU employees are responsible for keeping their email address and banking information current.  Submit a new Employee Reimbursement Direct Deposit Authorization form (mark change at the top) or use OSU Online Services to update information.  This information cannot be updated by telephone.
  6. Vendors are responsible for keeping their email address and banking information current.  This information cannot be updated by telephone.