Direct deposit is a process where someone who is going to be paid on a recurring basis, such as an employee, or a recipient of a government entitlement or benefit program such as social security, is sent the payment owed to them into their checking or savings account. The reasons for doing this include:
- Instant access to the funds via an ATM or check card;
- A check can be lost or stolen anywhere between the sender and the intended payee;
- Payments made electronically can be less expensive to the payor.
Direct deposit eliminates mailing delays and alleviates the need to go somewhere to cash or deposit your check.
West Virginia Direct Deposit Agreement
Category:
State:
Multi-State
Control #:
US-00416BG
Format:
Word;
Rich Text
Instant download
Description
How to fill out Direct Deposit Agreement?
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FAQ
West Virginia's Minimum Wage and Maximum Hours Standards Law requires that nonexempt employees be paid a minimum wage of $8.75 per hour. The law generally applies to an employer with six or more employees in any one separate, distinct and permanent location during any calendar week.
No employer or existing employee can be required to use or accept direct deposit as a method of receiving wages.
If you have direct deposit, your employer can issue a reversal request to your bank, which then attempts to take the wages out of your account. The reversal must be for the full amount of the transaction that went into your account.
You need to let us know if you change your bank account prior to any future claims being paid. If you do not notify us of your new banking information, the direct deposit will not be successful (it will bounce back) and you will experience delays in receiving your claim until we can verify your new banking information.
States that Allow Required Direct DepositIndiana, Kansas, Minnesota, Missouri, South Carolina, Texas, Virginia, Washington, and West Virginia allow employers to require direct deposit.
When you can request a reversal This is to ensure that the original paycheck wasn't rejected. If it's rejected, there's no need for a reversal. The bank account you want to reverse funds from must still be in the employee's profile. The reason for the reversal is in compliance with ACH or EFT laws.
Yes. The National Automated Clearinghouse Association (NACHA) guidelines say that an employer is permitted to reverse a direct deposit within five business days.
No employer can require an employee to use direct deposit at a specific bank. Employers aren't allowed to charge employees a fee based on payment method. Employees must have access to their pay stubs.
What is a Direct Deposit Authorization Form? Direct deposit authorization forms authorize employers to send money directly into an individual's bank account. In times past, employers would print out and distribute physical checks on pay day for each employee to deposit into their bank accounts themselves.
What if my paycheck is late? Employers are required to meet payroll at least twice a month with no more than nineteen days between paychecks, and to pay their employees for all wages earned up to and including the twelfth day immediately preceding pay day.
