Your EFT payment can be made free of charge with an Automated Clearing House (ACH) debit or credit card. With direct deposit or electronic fund transfer (EFT), the general public, government agencies, and businesses and institutions can pay and collect money electronically, without having to use paper checks. Direct deposit (EFT) is secure, efficient and less expensive than paying and cashing with paper checks. Electronic Fund Transfer (EFT) deposits payments in the U.S.
USA, of the beneficiary. Bank account within two business days of final approval in the Berkeley Financial System (BFS). Because EFT is more secure and convenient than paper checks, it is the preferred payment method. The process for authorizing EFT depends on the type of beneficiary.
See the following sections for information and instructions for UC Berkeley students, employees, and providers. Faculty and staff employees can establish and review their direct wage deposit instructions through UCPath. Bank information from the direct deposit of an employee's salary entered into UCPath is automatically linked to the employee's Berkeley Financial System (BFS) deposit information. Payments for travel, entertainment, miscellaneous businesses (business expenses) and other non-wage payments issued through BFS will be directly deposited into the same bank account as the one held to pay the salary at UCPath.
When employees update their direct deposit wage bank information in UCPath, the information will also be updated in BFS for reimbursement purposes. The employee or department does not require any additional action when an employee wants salary and reimbursements to be directly deposited into the same bank account. In these opt-out situations, any changes that an employee may make to their UCPath bank account (direct wage deposit) will not affect their BFS bank account (refunds) or the receipt of paper checks. Please note that cash depositors for smaller expenses, as required by the policy, will continue to receive BFS refunds by paper check, regardless of their payment method preferences in UCPath.
To authorize electronic fund transfer (EFT), complete the domestic supplier information update form, which is available on the Updating Existing Providers page along with other information and resources. When designating a checking or savings account, you must provide an image of a voided check or a confirmation letter from your bank that verifies your name, bank identification number, and account number. Incomplete forms will not be processed. Please allow 7 to 10 business days after receiving the form to set up the EFT.
In accordance with the Federal Privacy Act of 1974, you are notified that the disclosure of your social security number is mandatory. Disclosure of the social security number is mandatory in accordance with sections 6011 and 6051 of subtitle F of the Internal Revenue Code and with Regulation 4, Section 404 1256 of the Code of Federal Regulations, under Section 218, Title II of the Social Security Act, as amended. The social security number is used to verify your identity. The main uses of the number may include declaring (state and federal income taxes) withheld (Social Security contributions), unemployment and workers' compensation earnings (state), earnings and contributions to participating retirement systems, and (as an identifier) for your insurance company to verify your eligibility and keep records of claims for you and your eligible dependents.
The primary purpose of requesting information on this form is to obtain authorization to disburse payments directly to the financial institution of your choice. It is mandatory to provide all the information in this form and, if such information is not provided, the action for which the form is intended will be delayed or even prevented from being completed. The office responsible for maintaining the information in this form is the Office of Accounts Payable. Office of the Comptroller 1608 Fourth Street, Suite 201Berkeley, CA 94710-1749 The Office of the Vice Chancellor of Finance is committed to being inclusive and to ensuring that our websites and digital content are accessible to all.
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