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Conference 7.286::dcu

Title:	DCU
Notice:	1996 BoD Election results in 1004
Moderator:	CPEEDY::BRADLEY

Created:	Sat Feb 07 1987
Last Modified:	Fri Jun 06 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	1041
Total number of notes:	18759

221.0. "EFT DEC payments to DCU?" by SANFAN::ALTMANN_KE () Mon Jul 30 1990 18:28

    I'd like to propose a novel idea that should save employees time
    and money and save DEC money: Have DEC EFT (Electronic Funds Transfer)
    all employee payments directly to his DCU account - NO MORE CHECKS!
    
    How often have you had to stand in line at Petty (operative word
    here!) Cash for a check and then stand in line in DCU to deposit
    it.  If you mail it, you can lose interest not to mention the
    possibility of losing the check.  In the field here, one sends a
    expense voucher into a black hole called Travelletter and maybe
    if the planets are favorable, a check comes back in under a year.
    That check then must be mailed off to ones bank, losing interest.
    
    Now if all DEC payments (advances, employee expenses, and sale of
    stock proceeds) were immediately EFT'd into one'd DCU account all
    that waiting and lost interest would be solved
    
    How should I proceed to get the powers that be to listen to this
    idea?  Who are the right powers?  What kind of arguments would they
    find convincing?  Is there support out there for this idea?  Please
    comment here!!!
    
    Kerbey

T.R	Title	User	Personal Name	Date	Lines
221.1		SCAACT::AINSLEY	Less than 150 kts. is TOO slow	`Mon Jul 30 1990 19:07`	8
	re: .0 No, I don't want that stuff going into my DCU account. Then I'd just have to take it out and put it where I want it. Now, if you were proposing that those checks automatically go where ever my paycheck goes, then I could support you. Of course, then this no longer DCU issue, but a Digital issue. Bob
221.2	Already there (or was)...	MIPSBX::thomas	The Code Warrior	`Mon Jul 30 1990 21:11`	2
	When i was out in the field, I had setup with Traveletter such that all expense checks were EFT'ed into my DCU account.
221.3	Already in the works	GEMINI::GIBSON		`Tue Jul 31 1990 14:58`	6
	This idea is already being worked, not for transfer to DCU alone, but to some bank/checking/savings account belonging to the employee. I don't know when implementation is planned, but it is going to happen. Linda
221.4	Once upon a time...	POBOX::KAPLOW	Set the WAYBACK machine for 1982	`Tue Jul 31 1990 16:56`	7
	Until I got job transfered off the car plan, my Plan B checks went straight into my DCU account. All I got was an ACK in the envelope. Expense checks would have done likewise, but I never had anything beyond what my travelletter covered. I don't think I had the option of sending the funds anywhere other than DCU thou.
221.5	This was done before	ARGUS::BISSELL		`Tue Aug 07 1990 13:52`	19
	Funny how the wheel is re-invented so often. I participated in a field test sometime around 82-83. The employee logged into an account and entered the appropriate data and then it was routed to me. When I approved it , it went to petty cash who transferred the funds to DCU. I liked it very much as it was quick for me, very quick for the employees, gave me a running total of expenses for the month. The program failed in my group because we could not get enough people to get DCU accounts and to use the process. Some of the reasons were that the employee did not want a record of the funds available to the S.O. They were using the expense money (particularly Milage ) as extra pocket money. The process itself seemed to work just fine with all the proper auditing and checkpoints and could probably been made to work with any financial organization with some more work.