Automatic Deposit Policy and Procedure
Transformations offers contractors the opportunity to participate in an automatic deposit program for their reimbursement.
Contractors interested in having reimbursement received via automatic deposit will sign a Formal Declaration of Automatic Deposit to indicating this choice. Contractors will supply the agency with this necessary paperwork to facilitate the action. It is the contractor’s responsibility to inform the agency two weeks (fourteen days) prior to any changes related to bank account information, or the decision to start or stop automatic deposit submission of reimbursement.
Transformations will hold all financial routing information in a secure location which is only accessible by its owners, or appropriate administrative personnel.
Transformations will submit reimbursement via automatic deposit for those contractors who have formally declared their choice and have completed the necessary paperwork.
Transformations will submit funds into appropriate accounts in a timely fashion in order to be available to the contractor by Thursday of each week. In the event a situation arises which will prevent this then the agency will immediately notify affected contractors and work to rectify the situation.
In the event of a contractor having to immediately change their banking account the agency will work as quickly as possible to change the routing information. The agency may choose to reimburse the contractor via paper check during this transition time.
The agency will provide the contractor’s receiving funds via automatic deposit a paper document indicating client dates of service and reimbursement amounts. These documents will be placed within the contractor’s mailbox.
Resources and Links
Formal Declaration of Automatic Deposit
Form to Stop Automatic Deposit
Revised : 10-23-2018