Hello there, @Lanie1.
Processing a direct deposit paycheck to the wrong account number shouldn't be a worry for you. I'm here to ease your concern by guiding you on how to request a direct deposit reversal.
Usually, if the account where the money is deposited doesn't exist, then the amount will just bounce back to the employer's bank. On the other hand, if it's active, then that's the time you have to process direct deposit reversal. Before that, you need to know the following:
- Reversal requests are not a guarantee that the funds will be recovered.
- The reversal transaction takes 5 business days to process from the request date.
- Stopping payment won't prevent the payroll from being deposited to the employee or contractor bank account. It could result in a Non-Sufficient Funds with Intuit.
- It's recommended that you have an updated Direct Deposit Authorization form from all your current employees and contractors
- You will need to notify the employee or contractor of the reversal request.
And, you can only request reversal in these cases:
- Open the Direct Deposit Reversal form.
- Select New Request.
- Complete the required information and transaction information.
- Select Save.
- Once the reversal is approved (see the next section for details), you can void the paycheck in your payroll records.
- The total amount(s) must be greater than $50 (due to the $75
direct deposit reversal fee). - You can make a request between the 3rd and 5th day after the pay date. This is to ensure that the original paycheck wasn’t rejected. If it's rejected, there's no need for a reversal.
- The bank account you want to reverse funds from must still be in the employee's profile.
- The reason for the reversal is in compliance with ACH or EFT laws (duplicate payments or unintended payments).
Lastly, I recommend reaching out to our Support Team so a representative an input your reversal request.
Let me know if you have any other questions. I'm always here to help. Keep safe always!
