With Wagepoint, you have the option to split the employee paycheck into mutiple accounts.
For instance, if an employee wants you to allocate 25% of their paycheck into a savings account, the balance needs to get deposited into their checking account.
- You have to set up one account indicating that it is your "First" priority and allocate 25% of the paycheck into the desired account.
- If you have more than one account, this 'First' priority account will be deposited before your next one is considered.
- Next you must set up an account where you indicate that this is the "Second" priority and allocate 100% of the remaining deposit balance into the checking account. This essentially means that once 25% of your employee's payroll has been deposited into the savings account, all 100% of the balance will be deposited into the checking account.
Please note the last priority account must be 100% of the remaining amount to be deposited.