M and T Bank Payroll Check Cashing Fees

As many of you may already know, the State's Payroll account resides with M&T Bank. We have just been notified that effective October 03, 2005, M&T Bank will begin to charge a CHECK CASHING FEE to all non M&T Bank customers. M&T Bank will begin to advertise this policy change around September 1, 2005.

Most important however, is that all 'STATE EMPLOYEES ARE EXEMPT FROM THIS CHECK CASHING FEE POLICY' for their State payroll checks.

As banking policies continue to change, the Central Payroll Bureau invites all employees still receiving actual paychecks to consider the use of DIRECT DEPOSIT. Besides the obvious benefits of safe, fast and convenient access to your money, the Central Payroll Bureau will soon be offering electronic delivery of Direct Deposit Advice data via our Website (http://compnet.comp.state.md.us/cpb). All of us in Central Payroll are excited about this new benefit for you, our State employees. As the project matures, more announcements will be forth coming.

If you have any questions, concerning this memo or its contents, please contact our Operations Manager, Dhiren V. Shah at 410-260-7404.