Updating your bank information in the payroll software may seem like an ordeal. However, when payday arrives, having accurate details can make the difference between a smooth deposit and a frustrating delay.  

Thankfully, the process becomes quite simple and convenient if your employer uses Paylocity HR & Payroll, an all-in-one platform. This article walks you through the steps to change your bank info on Paylocity. 

Why You Might Need To Change Your Bank Information

Here are a few common reasons you might need to update your banking information: 

  • You have opened a new checking or savings account
  • You have closed your old bank account
  • You want to split your paycheck into multiple accounts
  • Your bank has changed routing or account numbers
  • You have experienced fraud and need to reroute deposits

Regardless of the reason, Paylocity offers a secure and convenient way to make the change. 

Step-By-Step: How To Change Your Bank Info On Paylocity

Follow the steps below to change your bank information on Paylocity: 

  • Step 1: Use your credentials (company ID, username, and password) to log in to your Paylocity account 
  • Step 2: Navigate to the 'Employee Self-Service' section. This is your personal dashboard where you can view and update your payroll, benefits, and personal information 
  • Step 3: Select the 'Pay' tab. Then, click on 'More' to access additional options related to your compensation and deposits 
  • Step 4: Next, select the 'Direct Deposit Accounts' tab. Here, you will see a list of any existing bank accounts currently linked to your direct deposit 
  • Step 5: Select the account from the list you want to modify. You can also set up a new account and delete the existing one 
  • Step 6: Provide the following details of your new account: 
    • Bank account number  
    • Routing number  
    • Account type (checking or savings) 
  • Step 7: Save your changes once everything is filled out. You may be required to confirm your identity or verify the update, depending on your company’s security settings 

Why It’s Important To Keep Your Bank Info Updated

Here’s why it is important to keep your bank account details up to date: 

  • To Avoid Delayed Paychecks: Incorrect or outdated account details can result in failed direct deposits, causing delay in salary deposits 
  • Security: Ensuring your info is accurate reduces the risk of funds being deposited into the wrong account 

Handy Tips For A Smooth Process

Follow the tips below to ensure a hassle-free process: 

  • Double-check your routing and account numbers before submitting
  • Update promptly. If you know you are switching banks, do it ahead of your next payday
  • If you are unsure about any step, contact your HR or payroll department for further assistance

On the whole, keeping your banking info up to date on Paylocity ensures you get paid without a hitch. So, take a few minutes and update the information today.