Employee Reimbursement Direct Deposit

Financial Services is pleased to announce that you can now elect to have your employee expense reimbursements deposited directly into your bank account. Deposits will be made to the same bank and account that you specify in Employee Self Service for the direct deposit of your TCU paycheck. If you have your paycheck deposited into multiple bank accounts, a new option will allow you to select any one of those accounts to use for Accounts Payable (A/P) expense reimbursement processing.

Your expense reimbursements can only be direct deposited into one bank account.  If you choose to change or terminate your paycheck direct deposit option, you can also do the same for your expense reimbursements, and this request will automatically update A/P expense reimbursement records.

This new direct deposit initiative will reduce the time and effort required by you to pick up your reimbursement checks from the Financial Services office, and will also eliminate the need for you to make a trip to the bank to deposit the check.  On Friday, you will receive an email notification confirming that the expense reimbursement payment has been direct deposited into your bank account. As indicated, the direct deposit of payments via the Accounts Payable system is dependent upon banking information already provided by employees for payroll purposes, so if a payroll direct deposit relationship does not already exist, a check will continue to be issued.

We encourage those University employees who are not currently set up for direct deposit to do so by accessing the Employee Self Service option for Direct Deposits on the my.tcu.edu portal.  While direct deposit will be the preferred payment method, we understand that some employees may want to continue to have a paper check generated. Those employees who do not wish to receive A/P direct deposit will not need to do anything. Only those who wish to receive this benefit will need to log in to my.tcu.edu to opt-in. You may sign up for direct deposit of your employee expense reimbursements at your convenience. All you need to do is go into HR Employee Self-Service and sign up. The Self Service for A/P Direct Deposit link will walk you through getting signed up.

Please remember that you must sign up before your expense reimbursements can be processed as direct deposits. For those of you that elect to sign up for this new benefit, the deadline to submit your expense reports for direct deposit will be on Mondays, by 12:00 pm (noon).  The electronic ACH file has to be transmitted to the bank by 2:00 on Wednesdays in order to have the transaction deposited to your bank account on Friday.  The Monday deadline should allow us sufficient time to process the paperwork. The General Information about A/P Direct Deposit link should answer some of the questions or concerns you may have regarding this new option for expense reimbursements to TCU employees.  We have also included a FAQ.