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Direct Deposit Banking Information

Direct Deposit Banking Information

Owned by Melanie Steider2
Last updated: Jan 20, 2025 by Melanie Steider

How to update your banking information for direct deposit of your payroll check, as well as for any reimbursement checks from Valparaiso University for things like travel reimbursements, additional compensation, or other expense reimbursements.

Step-by-step guide

Logging in to change Direct Deposit information

  1. To access your banking information, log in to Colleague Self-Service using your ValpoNet username and password. From the home screen, select 'Banking Information'.
  2. The Banking Information screen will list your current direct deposit accounts for Payroll Deposits and for Refunds, Reimbursements, & Payments by displaying the bank name and amount currently being sent to that bank (if more than one is listed per category)
  3. To add a new account, select 'Add an Account' in the upper right hand corner. You will then be prompted through adding your bank account information.


Note that if you already have any accounts set up you will be prompted to enter your full account number as a secondary form of identity verification. Your current accounts will display only the last 4 numbers of your account.

  1. Select which type of deposit account you would like to Add; Payroll Deposit or Refund, Reimbursement & Payment Deposit by sliding the 'Activate' button.
  2. When you click on "Add an Account" you will select either "Payroll Deposit" or "Refund Reimbursement & Payment Deposit" option by moving the slider to 'Activate'


Adding a new account for Refund, Reimbursement & Payment Deposit 

  1. Slide the 'Activate' toggle so that it shows green for Refund, Reimbursement & Payment Deposit
  2. Select an Effective Date
    1. This election will be effective until you return to this screen and turn off the Activate toggle for this account
  3. When you click Next, you will need to complete the information about the bank.
  4. Enter bank information, beginning with giving a name or description to the account, then the routing number and your account number.  There is no option to split the payments between banks and accounts.

Adding a new account for Payroll Deposit

  1. Slide the 'Activate' toggle so that it shows green for Payroll Deposit
  2. Select the Effective Date for when you want deposits to this account to begin
  3. Select either:
    1. No end date if you wish this election to continue indefinitely
    2. End on:  (future date), if you wish this election to be for a specific period of time.
  2. Deposit Details
    1. Select Entire Balance for your whole pay to be deposited to this account - or -
    2. Select Specific Amount for a portion of your pay to be deposited to this account
    3. When you click Next, you will need to complete the information about the bank.
  3. Bank Details
    1. Enter a Name/Description for the account (it defaults to New Account, you must replace)
    2. Enter your bank's routing number, your account number, and the type of account (Savings or Checking)
    3. Click the Consent button 
    6. Check 'Entire Balance' to deposit your full paycheck to one account
    7. If you would like to select multiple accounts, with specific amounts to each, click 'Next' again to enter another account.
    8. Then select an account for the Remaining Balance repeating the above process.
    9. When you are done entering bank details, click Submit to return to the Banking Information summary screen.
  4. From this screen, use the BACK button at the top left of the screen to return to the Banking summary page. 
    1. Your screen will show the accounts you have entered, along with their funding priority. This is the sequence in which the accounts will be funded.
      1. A new account will initially show as , until the account number and routing number have been confirmed.


Effective Date Lead Time

Note, generally elections must be updated one week prior to the pay date to take effect


Changing a Direct Deposit Account

  1. For Payroll Deposits, select an End on: date 
    1. Note that changes generally must be input more than one week prior to the scheduled payment
  2. For Refunds, Reimbursements, and Payments, click Deactivate (change the toggle away from Activate)

Video


For additional assistance, contact the IT Help Desk.