Plansource is Changing Banking Partners!

Share :

By Kelly Sprekelmeyer

To better serve our customers, PlanSource HCM is moving our banking services to Wells Fargo. With this change, we are happy to announce that we will be able to offer ACH as a payment method for invoices for approved clients! The move to ACH will allow us to move to the immediate processing of invoice payments and returns for credits. Wells Fargo also offers more check cashing locations in more states and cities for your employees.

We will be sending out additional information in the coming weeks regarding the steps you will need to take with your financial institutions, so keep an eye out for those notices. The timeline for the transition is below. Please mark your calendars for these important dates:

  • 4/5: New banking forms sent to clients for completion
  • 4/17: All required forms must be filled out and returned to HCM for processing
  • 4/28 – 4/30: Payroll processing BLACKOUT for all customers. Beginning Friday, 4/28 at 8pm EST, all payrolls MUST be closed so that the bank updates can be applied. Open payrolls will be undone by the service team after 5pm EST on Friday, 4/28 to allow the new bank changes to take effect.
  • 5/1: New banking processes in effect for client payrolls

Leave a Reply

Your email address will not be published. Required fields are marked *