Payroll Direct Deposit Change

[julieanne34]

MY company recently started direct deposit. We have always been paid every other Friday. They just put out a memo stating that April 1st, we will get paid on Mondays. The reason they gave is the following.

Due to our recent Direct Deposit implementation and the requirements of the Federal Reserve processing system, this pay date change is designed to ensure employees are paid timely and correctly.

Can any tell me if this is really because of the Federal Reserve? Is this a change that effects all companies, or is it simply o way of making the change sound official?

 

[cbg]

It doesn't make any difference. They are free to make the change if they want to. Whatever the reason, if they want to make payday Monday instead of Friday, they may do so.

 

[Lori_A]

My company stated that beginning February 2009 all employees working in NYS will be required to direct deposit 100% of their pay into X Bank accounts or they will not be permitted to use direct deposit and will be issued paper checks. Is this legal?

If I elect not to utilize the direct deposit feature, I will begin to receive a paper check via mail. Is this legal?

 

[cbg]

Why wouldn't it be? How else are they supposed to pay you if you don't elect direct deposit except by paper checks?