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Direct Deposit
What are the benefits of using Direct Deposit vs. receiving a
refund check?
- There is no risk of your check
being lost or stolen in the mail
- You don't have to go to the bank
to cash or deposit it
- Funds for direct deposit participants will be available within
48 hours of disbursement (except at the start of each semester,
where the refunds will be made available approximately ten business
days after the add/drop period)
Information on
Direct Deposit
- Your direct deposit will be
activated approximately 10 days after you submit the authorization
form.
- Refunds of financial aid and other
overpayments on your student account may be made by direct
deposit.
- The direct deposit will reflect on
your next monthly billing statement as well as on your bank
statement. Check with your bank to verify receipt of the
funds.
- A closed bank account will result
in a return of the funds transferred to your bank account.
The direct deposit will not go automatically to a new bank
account. You must complete a new form to redirect your
direct deposit.
- This direct deposit authorization
will remain in effect for as long as you are attending the
University of St. Thomas and you do not change bank
accounts, unless we receive written notification from you to
discontinue the direct deposit option. Written notification
must be received in such time as to afford the university
reasonable opportunity to act on it.
- You will be responsible for
repayment to the university of any direct deposit funds should you withdraw or make other changes to your schedule which may result
in a reduction in your financial aid or when any overpayment
of financial aid occurs.
Your nine-digit Routing Number is
generally located on the bottom of your checks between the symbols
shown above. Some banks however display their own number that
may make the number invalid, in which case you should notice one of
the following:
1) There are not nine digits in the
routing number.
2) There is another symbol mixed with
the digits of the routing number.
If you believe the routing number
shown on your checks may not be valid or you are unsure of your bank
account number, please contact your bank for this information.
To sign up for Direct Deposit you
must complete and return a Direct
Deposit Authorization form. Please attach a voided
check to the form. DO NOT attach a deposit slip.
Mail or drop off your authorization
form to:
University of St. Thomas
Business Office, Mail #AQU116
2115 Summit Avenue
Saint Paul, MN 55105
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