I heard that SAG-AFTRA is offering direct deposit for residuals payments. Is this true?
Yes, SAG-AFTRA has entered into a multiyear agreement with Exactuals LLC, a third-party payment processing company, to facilitate the delivery of residuals via direct deposit.
When will direct deposit be here?
This new service will begin during 2017. The rollout will happen in stages, so all members won’t begin receiving direct deposit at the same time.
How do I sign up for direct deposit?
Enrollment for direct deposit will be initiated through the SAG-AFTRA website. As availability of the program gets closer, more information will be provided.
Will payments go into my existing bank account?
Yes. The member will specify which bank account they would like to use for deposits. The program will be able to deposit funds into most U.S. bank accounts.
Will I still get my residuals statements?
Yes. Residuals statements will be available online through the direct deposit portal, where you can see the full history of deposits along with residuals statements and images of the corresponding check stubs.
Will direct deposit be available for all my SAG-AFTRA residuals or just for certain studios / payroll houses?
The program will initially be limited to a select group of participating studios and payroll houses. The goal is for all residuals to eventually be delivered via direct deposit.
How frequently will deposits be made?
For members who opt into direct deposit, deposits will typically be made on a weekly basis.
Will my agent and manager have access to my online residuals data?
Access to residuals data will be through your SAGAFTRA.org website account, so only you will have access to your residuals and direct deposit information. Franchised agents who notify us that they are representing you have always had access to your residuals information, but that data is provided separately, and is not tied to your personal account. This residuals data which is shared with agents does not include your direct deposit information, and that will remain unique to you.
If I prefer to do so, can I continue receiving my residual checks in the mail?
Members must opt in for direct deposit. Those that do not elect to receive direct deposit will continue to receive paper checks and statements. At any time, a member can change their preference for direct deposit or paper checks.
What if I don’t want to use direct deposit?
This is strictly an opt-in program. Paper checks will be issued for those who do not want to participate in direct deposit.
Will direct deposit affect how my residuals are credited for pension and health benefits eligibility?
Direct deposit will have no effect on pension and health benefits.
Will I still be able to use the SAG-AFTRA residuals tracker?
Yes, the SAG-AFTRA tracker will still be available and accessible.
Will this service cost me anything?
There is currently no plan to charge members for this service.
Will my bank account information be secure?
All bank account information will be kept with the highest security and encryption standards, consistent with those of banking industry.
Will direct deposit be available for non-members and fee-paying non-members?
Direct deposit will initially be offered to members. Other participant groups will be evaluated as the program evolves.
Will direct deposit be able to handle multiple deposit accounts in relationship to loan-outs?
Our goal is to make direct deposit available for all members and their loan-outs. In certain instances, direct deposit may not be feasible specifically for loan-outs.