Common use of Electronic Payroll Clause in Contracts

Electronic Payroll. The company plans to convert its payroll to electronic funds transfer into a bank or financial institution selected by the employee from a list provided by the employer. The company will work with the Guild to establish a default mechanism for employees that fail to make a selection. Under any new system the company guarantees that an employee will receive payroll funds on payday as currently. Further, employees shall never be forced to use a mechanism that has any fee attached to it, to access their payroll funds. The company agrees that any default mechanism for payment of payroll will be readily and reasonably accessible to employees.