Add Direct Deposit Information
Purpose: To show you how quick and easy it is for an employee to update their direct deposit information in BambooHR.
Pay Info tab
An employee can update their direct deposit information by going to the Pay Info tab and clicking Update Direct Deposit.
Add an account
An employee will need to add the following information for each bank account:
- $ or %: Determine an exact amount or a percentage of the remaining total.
- Amount or Percentage: If selecting $, then enter an exact amount. If selecting %, then enter the percentage amount.
- Account Number: Enter their account number.
- Routing Number: Every bank has a routing number tied to it. The employee needs to enter their bank's specific routing number. If they enter one of the top 25 banks in the U.S., then the bank's logo will appear on the right. If they enter a bank that is not in the top 25 banks in the U.S., then a basic bank logo will appear.
- Account Type: Select if the account is a Checking or Savings account.
Once the direct deposit information is complete, click Save, and the information will appear in the Direct Deposit table.
When an employee updates their direct deposit information, the employee and payroll contact (listed in Payroll Settings) will receive an email notification.
When adding multiple direct deposit accounts into BambooHR, you will want to enter them in the following categories (You can enter multiple lines of each category). The order you enter these matters as this will determine the order of payout to each account:
- 1st Direct deposit account category: Percentage (%) of the total direct deposit (Percentages are paid 1st).
- 2nd Direct deposit account category: Dollar ($) of the remaining total from line 1 (Dollar accounts are paid next).
- Final Direct deposit account: 100% of the remaining total (Balance accounts are paid if any net pay remains).
Please note: The final direct deposit account always needs to be 100% of the remaining total to ensure the employee does not show a printed paper check for any leftover amount. (You will see "You'll receive a paper check with any remaining balance" in the direct deposit account box if not.)
Does your company have a lot of direct deposit data to add for your employees? BambooHR customers have the option to import direct deposit data directly into the employee profile. Please note this is only available to current customers going through implementation or as a paid service after the implementation process is complete.
Click on the file below to download the data template.
For Column J, if an employee has multiple direct deposit accounts, the last account must be set to “BAL” or “100 PCT” because our system reads the last account as 100% of the remaining balance.
If an employee's deposit was returned, TRAXPayroll will email the payroll administrator within 2 business days from your applicable pay date. The email will provide information and options for re-depositing the funds on the next business day. You will be required to reply to the direct deposit notice and let us know the bank account information has been updated for the employee in BambooHR by 11:30 a.m. (PT) on the day of the notice for us to re-deposit the funds on the next business day. If we do not hear from you by the required time to re-deposit, the funds will automatically return to your company's bank account. From there, you will need to issue the employee the funds through another method (i.e., in-house check or wire). Please note there are fees associated with correcting or redepositing failed direct deposits.
To avoid the possibility of any future deposit returns, please make sure that the employee's bank information updates in BambooHR and the changes have synced over to TRAXPayroll before you run payroll again for the employee.
When setting up an employee access level, the Full Admin user(s) can grant employees View Only, View and Edit, or No Access to Direct Deposit information.
What's next?
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