Direct Deposit - Splitting Direct Deposits | Wagepoint

Direct Deposit - Splitting Direct Deposits

With Wagepoint, you have the option to split the employee paycheck into mutiple accounts. 

Example:

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. 

  1. You have to set up one account indicating that it is your "First" priority and allocate 25% of the paycheck into the desired account. 
  2. If you have more than one account, this 'First' priority account will be deposited before your next one is considered.
  3. 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.