Direct Deposit Authorization

I, (the “Employee”), authorize Galaxy Holdings (the “Company”) to deposit my net pay and any other amounts owed to me by electronic funds transfer (direct deposit) into the bank account designated below, beginning with the next practicable pay cycle on or after .

1. Bank Account Information

I confirm that I am an authorized owner of this account and that the information above is accurate.

2. Allocation of Deposit

The Company will deposit the following portion of my net pay into the account above:

Any remaining balance will be paid by the Company’s default method. If I designate multiple accounts, I will provide a separate authorization and allocation for each.

3. Authorization to Credit and Correct

I authorize the Company and its payroll processor to initiate credit entries to the account above and, if necessary, to initiate debit entries and adjustments to correct any deposit made in error, including the reversal or recovery of amounts deposited to which I was not entitled. I authorize my financial institution to honor these entries. This authorization complies with the rules of the National Automated Clearing House Association (Nacha).

4. Term and Revocation

This authorization remains in effect until I provide the Company written notice of cancellation or change with enough advance time (generally at least one full pay cycle) for the Company and its bank to act on it. If the designated account is closed or becomes invalid, I will promptly notify the Company; until updated information is processed, the Company may pay me by check or other lawful means.

5. Acknowledgment

I understand that direct deposit is voluntary where required by law, that the Company is not responsible for delays caused by my financial institution, and that I am responsible for the accuracy of the information I provide.

Galaxy Holdings

Name: Michael Yuan
Title: General Manager
Date:

 

Signature of Employee
Date: