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Effective June 18, all expenses that are submitted will be reimbursed by electronic funds transfer (EFT) directly into the employee’s bank account. York University employees who previously received manual cheques for expense reimbursement will now have their reimbursements deposited into the bank accounts they use for payroll purposes. Employees will receive confirmation via e-mail of ETFs as they occur.
For employees who have already voluntarily migrated to EFT for expense reimbursement, there will be no change. Employees who wish to change or confirm their banking information for expense claim reimbursement are asked to contact the Finance Department at ext. 55143 or submit the Application for Employee Direct Deposit Banking by June 10.
This direct deposit system is a service enhancement and one of several PRASE/Finance initiatives being implemented to more effectively serve the community while also reducing operating costs. To date, more than 60 per cent of employees have voluntarily converted from manual cheque to EFT.
Moving to EFT provides employees with the following service enhancements:
- Employees will have the convenience of claims for reimbursement being deposited directly into their bank account.
- Employees will be notified by e-mail of the date of the deposit to their bank account, thereby avoiding the need to visit a bank or ATM to physically deposit a cheque.
- Employees will experience an accelerated and more secure payment process as cheque handling and internal mail distribution are eliminated.
We thank all community members for their support as we strive to enhance our administrative services.