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FAQ - Rutgers University Work Place Banking

How do I switch from my current bank to a Work Place Bank?

Enroll in the Work Place Banking program with a participating bank. Complete a Direct Deposit form redirecting your paycheck to your new participating bank account. Please note that the Direct Deposit authorization will require two payroll cycles to become effective. Therefore, you should maintain your current bank account until your direct deposit and any pending transactions have been processed.

If I already bank with a participating bank, must I enroll in Work Place Banking?

Yes. You must enroll in the Work Place Banking program in order to receive the benefits. If you do not already have Direct Deposit to your account with the participating bank, you must also complete a Rutgers Direct Deposit form. You can download a Direct Deposit form. Return the Direct Deposit form to:

Payroll Services
ASB,  Room 317
Busch Campus

Is Direct Deposit required for Work Place Banking?

Work Place Banking services offered by the selected banks do require Direct Deposit of your paycheck. Banking benefits offered by Rutgers Federal Credit Union do not require Direct Deposit of your paycheck to receive banking benefits.

Is Direct Deposit required for Work Place Banking?

To enroll in the Work Place Banking Program with a participating bank:

  • Contact the participating bank directly via the Internet, phone or visit a branch to enroll in Work Place Banking. Websites and phone numbers of the participating banks.
  • Complete a Rutgers Direct Deposit form authorizing the direct deposit of your paycheck into your account at a participating Work Place Bank. You can download a Direct Deposit form. Return the Direct Deposit form to Payroll Services, Room 317, ASB, Busch Campus.

To enroll in Work Place Banking with the Credit Union:

  • Complete a Rutgers Federal Credit Union Membership Application and Agreement form. For a Rutgers Federal Credit Union application, visit their website. Return the application, a copy of your Rutgers ID and your drivers license, and your initial deposit ($5 to open a Checking Account and/or $25.00 to open a Savings account) to the Credit Union via campus mail (100 College Ave, New Brunswick) or visit at any Credit Union branch.
  • Visit any Credit Union branch to enroll for Direct Deposit, Payroll Deductions, ATM/Debit Card, and other services.

May I enroll with more than one bank for Work Place Banking?

Workplace Banking benefits are available to employees who direct deposit their pay into TD Bank, Wells Fargo, or PNC Bank. However, pay can only be deposited to one banking institution. The Rutgers Federal Credit Union does not require Rutgers employees to use direct deposit to receive Workplace Banking benefits.

What are the benefits of Work Place Banking?

Free checking, free online banking and bill payment, discounted loans and closing costs, and additional banking services are available to Rutgers employees through an arrangement between the university and select banks and the Rutgers Federal Credit Union. Specific benefits vary by bank/credit union. To compare Work Place Banking offers, visit the Workplace Banking page.

Who is eligible for Work Place Banking?

All regularly appointed full-time and part-time employees are eligible to participate in Work Place Banking.