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Kalamazoo College
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Frequently Asked Questions

Is direct deposit faster than a paper check?

AP (reimbursements, travel advances, vendor payments) payments can take a week to process and are paid each Monday, Wednesday, and Friday.

Paper checks are typically available after 3 pm on day they are printed.  The College uses "positive pay" which is an electronic file sent to out bank listing all our checks.  This file can take 3-5 hours to process through our bank. If a paper check is taken the day it was printed and presented to our bank, PNC, they might not cash it if the electronic file showing it to be a valid check hasn't uploaded.  Since most people deposit checks or cash them somewhere else the timing is rarely an issue.  Checks less than $200 can be cashed at the College Bookstore.

Direct deposit (ACH) are sent to our bank electronically with a pay date of the following business day.   The funds will appear in the payees bank either same day or 1-2 days later.  Large national banks process ACH payments faster than Credit Unions which are often slower.  For example, if a payment is made by the College on a Friday, the ACH file is dated for Monday (the next business day).  The payee will receive the funds on either Monday, Tuesday or Wednesdays, depending on their bank or credit union.

 

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