Required Employee Participation in Direct Deposit Or Payroll Cashpay Card

REQUIRED EMPLOYEE PARTICIPATION IN DIRECT DEPOSIT OR PAYROLL CASHPAY CARD

As part of the approved FY2014 Budget, the Cobb County Board of Education has mandated that all full-time and part-time employees must receive their paychecks throughDirect Deposit or electronic CashPayCard. Employees already participating in the Cobb Schools Direct Deposit Program do not need to take any action and this memo will simply serve as information.

Implementation Plan

Current employees not using the Direct Deposit Program are requiredto convert to Direct DepositOR Payroll CashPayCardby September 30, 2013. These employees will need to make a choice to (1) Open a bank account and initiate Direct Payroll Deposit or (2) Sign up for a CashPayCard which is a reloadable VISA card with Bank of America:

(1)Procedure for Utilizing a Bank Account and Direct Deposit

Step 1You can use your existing bank account for the purposes of Direct Deposit. If you already have a bank account, proceed to Step 3.

Step 2If you don’t already have a bank account, you will need to open a bank account.Employees must have two official forms of identification with them when visiting a bank to open an account.Inform the bank the account will be used in the Direct Deposit Program with Cobb County Schools.

Step 3Submit a completed/signed FS-225 Direct Deposit Authorization form(Form Attached) to the Payroll Department in Financial Serviceson or before theSeptember 30, 2013 deadline. Please be sure to include a voided check or account information indicating your routing number and account number.Employees may submit the form to the Payroll Department by FAX (678-594-8566) or in person at 440 Glover Street, Marietta, Georgia.

Note:Employees can use any bank when signing up for the Direct Deposit Program. For your convenience, the District has worked with two financial institutions, Bank of America and Credit Union of Georgia, to assist you with opening a checking account with favorable terms. Please feel free to contact these banks or visit a branch office.

(2)Procedure for the Bank of America CashPay Card

CashPay Card Information

CashPay is a payroll option for employees who either do not qualify for, or choose not to have a traditional bank account. These employees will be offered a CashPayCard.The CashPay Card will allow the Cobb County School District to make payroll disbursements to Bank of America. The bank will electronically load the employee’s payroll onto theCashPay Card allowing employees immediate access to the funds.Every CashPay Cardaccount is individually FDIC-insured. Cardholders can access their cash anywhere VISA debit cards are accepted, point-of-sale terminals (retail stores, grocery stores, etc.)and ATMs. The CashPayProgram has a toll free 24/7 customer service number that will allow employees to receive automated CashPay Card information or speak to a customer service representative.

CashPay Card Procedure

Step 1Complete and sign a CashPay Bank of America Enrollment Form (Form 225A – Attached). Deliver the form to the Payroll Department at 440 Glover Street, Marietta, Georgiain person or by FAX (678-594-8566) by the September 30, 2013 deadline.

Step 2You will receive your CashPay Card in the mail. Your paycheck will be automatically loaded onto your Card on each payroll date as soon as Bank of America processes your enrollment form information.

Questions

If you need additional information or assistance, you can contact the following persons in the Cobb Schools Finance Division:

Colette Turner – 770-514-3861

Thomas Marshall – 770-590-4580