Mandating direct deposit in arizona
The Prepaid Rule was scheduled to become effective April 1, 2018, however, the effective date has been delayed until April 1, 2019.
The prepaid rule creates additional consumer protections for prepaid accounts including payroll card accounts already subject to Regulation E.
Colorado Revised Statutes, § 8-4-102 Paycard provisions added by SB 120 (2008 Chapter 56) Effective August 2008 Section 8-4-102 of the Colorado Revised Statutes authorizes an employer to deposit wages on a paycard so long as the employee (1) is provided a free means of access to the entire amount of net pay at least once per pay period, or (2) may choose to be paid using another authorized method of wage payment (e.g., cash, checks or direct deposit).We would like to share some very important news with you regarding the payment of your Federal retirement benefits. Everyone will be required to change to direct deposit or receive a debit card (if you do not have a bank account). Wouldn’t it be nice to know that you don’t have to worry about your paper check being delayed in the mail, lost or stolen? Department of Treasury has made changes affecting the way you will receive payment. Treasury will be sending an official notice very soon.The material provided on the APA Visa Paycard Portal is for informational purposes only and is not to be considered tax, legal, or financial advice, analysis, or opinion.
Readers are reminded that they are solely responsible for complying with federal and state employment laws and are encouraged to seek competent legal authority before taking action based on this material.Effective July 1, 2007, the Board of Governors of the Federal Reserve System ("Board") amended Regulation E to expressly cover payroll card accounts.