Common use of Deposit of Checks Clause in Contracts

Deposit of Checks. Each employee’s pay shall be deposited electronically in any Automatic Clearing House (ACH) bank in the United States of America. The electronic data shall be taken to the financial institution for processing two business days before each pay day. Each employee shall furnish to the School District the following information: Bank routing number Bank account number for employee Type of account (savings, checking) After January 1, 1998, electronic deposit will be the only method used to pay employees. An electronic payroll remittance advice will be generated each payday for each employee listing the same items normally listed on a payroll check stub.

Deposit of Checks. Each employee’s pay shall be deposited electronically in any Automatic Clearing House (ACH) bank in the United States of America. The electronic data shall be taken to the financial institution for processing two business days before each pay day. Each employee shall furnish to the School District the following information: Bank routing number Bank account number for employee Type of account (savings, checking) After January 1, 1998, electronic deposit will be the only method used to pay employees. An electronic payroll remittance advice will be generated each payday for each employee listing the same items normally listed on a payroll check stub.: