Justworks is excited to announce that you can now split your paycheck automatically on payday. This has been on our members’ wish list for some time, and we’re happy we can bring this feature to you.
What is Multi-Bank Account Deposit?
Multi-bank account deposit is the ability to split your paycheck directly into two different bank accounts via direct deposit.
How Do I Add Multi-Bank Account Direct Deposit?
Add a second bank account by logging into Justworks and entering the account details.
Choose how much of each payment should be deposited into your secondary bank account by percentage or dollar amount. The remaining amount will be deposited into your primary bank account — this is the account all your payments currently go to.
All taxable payroll checks from your employer including salary, commission, bonus payments will be split based on the amount you select.
Non-taxable payments such as expense reimbursements will not be split and will be deposited 100% into your primary bank account.
Why does your business need an accountable expense plan?
Why Did Justworks Create This Feature?
Our customers requested direct deposit split into two accounts. It’s also a practical feature that will help you better manage your finances, avoid bank transfer fees, and meet savings goals.
What Else Should I Know?
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.