What about automatic payroll deposits?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Just wondering if there's been any discussion on automatic payroll deposit. My last pay day of the year is Dec 30th. If it turns out that cash withdrawals will be limited, then there's little chance of withdrawing the entire amount on the last Friday of the year. If my bank get's the Y2K bug, then my personal checks will probably be useless come January. Of course the flip side would be to have payroll check in hand and the bank my employer uses could have the bug, leaving my paycheck uncashable? Any thoughts?
-- Desiree Wilson (firstname.lastname@example.org), December 06, 1999
Write lots of checks just like you usually do. If they bounce sue the bank. (Why not, everybody else will be doing it.) ;-)
As for your bank, you may be sure that while there are no guarantees, they have been diligently working on the problem, are Y2K ready, and are proud to move forward into the next century. ;-)
-- cgbg jr (email@example.com), December 06, 1999.
us too. we get paid once a month and this month it falls on the 30th. we tried to get them to move it up, they did by one day!!!!!!!! so there goes a whole month if the checks don't make it.
i cancelled my auto deposit. correct me if i am wrong anyone but i just wanted to be sure the particular bank i use was still in or open for business before i deposited my check. it also means i will get mine a few days earlier.
CAN YOU BELIEVE THOSE DITZES AT MY COMPANY? I WROTE THEM A LETTER SUGGESTING THAT THEY PAY US TWICE THAT MONTH TO ENSURE THAT THEIR EMPLOYEES AT LEAST GOT HALF OF THEIR MONTH'S PAY. THEY SAID SURE AND MOVED IT UP A DAY. i think the whole payroll dept is DGIs. because when i questioned them, they said, "the bank has assured us the deposits will go through" so i tried to educate her that the problems may be with the banks on the other end to no avail. DUH.
-- tt (firstname.lastname@example.org), December 06, 1999.
I've got autodep. Payroll is with Nation's, my acct walkalloverya (which from what I hear is Southern for Wachovia). GN bragged on my bank's y2k statement, so I e-mailed my bank a link to his testimony of how great they were doing (hehe) and asked then should I stop my auto, and just take the paper check directly to them to be cashed January, and oh boy big surprise when they didn't even answer me.
-- Hokie (email@example.com), December 06, 1999.
Here in Wisconsin, state employees who are bi-weekly are getting paid early (December 28 I believe) but employees for the University of Wisconsin who are paid monthly are getting paid by automatic deposit on January 3rd.
No contingency planning there.
-- Angry (firstname.lastname@example.org), December 06, 1999.
I stopped my pay auto deposit. This week will be my first cheque.
I also stopped all pre-authorized payments. I prepaid some bills into Feb/March 2000. Others I get billed monthly.
I'm with the TD Bank in Canada. I left the pre-auth payment on my VISA card, and the pre-auth payment on the TD Life Insurance in effect.
Anything that was with a third party was stopped.
I sure hope their Web Banking works in the new year.
-- Cable_man (email@example.com), December 06, 1999.
I've been working, as some of you may recall, with many companies and their efforts to keep payroll going. Some will make it, some won't.
Payroll problems are actually one of my predictions on another thread.
IF companies are able to process payroll in the new year, the delivery of the payroll to the employee may very well be a problem. The first, of course, is a big IF.
The mails may be a problem, of course, but don't assume direct deposit will work.
The largest provider of outsource payroll services is ADP (y'all have probably heard of them). The maintain they are 100% ready for the turnover. Contract language has been difficult, but I believe them. They started work very early on the problem.
As a matter of fact, they sponsored a project called "Keep America Paid", which was designed to test interfaces for ACH (direct deposit) with banks across the country. Banks could be part of this testing if they paid a small fee for the work involved.
Only a handful of banks participated, however. The reason? they didn't want the test results made public, or they didn't want to pay the fee, or they had too much work to do on that weekend when the test happened, etc.
The test was conducted during 1998, but long after the highly puplicized 6/30/98 remediation complete date that so many asserted.
So will all the interfaces work? Who can say?
Will the treasury department systems required work? We'll see.
Will y'all get paid in January? Maybe. Will the amounts be right? Better chance if you're salaried. If you're an hourly employee it doesn't look as good.
If you're employed by a SME (small & medium enterprise) that doesn't outsource, don't count on it (remember, up to 50% of SME's plan to FOF - "fix on failure").
If they do outsource, hope the front-end systems which supply the outsourcer the raw data are compliant.
This will be a huge issue in 2000! We are already seeing the start of it with the protesting of the D.C. teachers.
-- Duke 1983 (Duke1983@AOL.com), December 06, 1999.
Wish I could have stopped my auto payroll deposit...but my government employer added to every employee bargaining unit's MOU this year that automatic payroll deposit was mandatory. Not a single GI on any represented employee groups' Bargaining Team. I warned my team but to no avail (and I was a member of both the Board of Directors of my union and am a member of my department's Y2K TF) They didn't bother to address the issue - not a single word about Y2K in general was spoken at the bargaining table.
-- Darby (edarby@AOL.com), December 08, 1999.