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Frequently Asked Questions - Direct Deposit Enrollment

  1. Why should I enroll in student account Direct Deposit?
  2. Can I enroll in Direct Deposit if I am a student athlete?
  3. How do I enroll in student account Direct Deposit?
  4. What type of account can I use for Direct Deposit?
  5. Can I have my student account refund mailed?
  6. How will I receive a tuition refund if I drop classes?
  7. I just signed up for student account Direct Deposit. When will it become effective?
  8. How is financial aid refunded? Will financial aid be Direct Deposited to my bank account if I enroll in student account Direct Deposit?
  9. How do I confirm that my bank account information has been accepted and set up for Direct Deposit?
  10. What is the deadline for enrolling in student account Direct Deposit to ensure that my financial aid is Direct Deposited to my bank account?
  11. Can I have my student account refund deposited into a bank account other than my own?
  12. When is financial aid refunded?
  13. What should I do if my banking information changes? How can I change my Direct Deposit Enrollment information?
  14. If I am expecting a late disbursement of my financial aid, will those monies be Direct Deposited?
  15. My bank account was closed but a Direct Deposit was already processed. How do I get my student account refund?
  16. How do I deactivate my Direct Deposit Enrollment?
  17. What charges are billed on my student account?
  18. How often does the Student Accounts Office process Direct Deposit refunds?
  19. How will I know if I am receiving a student account refund?
  20. Can I pick up my student account refund in person?
  21. Will my banking information be safe and secure?
  22. Where do I find my bank's Routing Number?
  23. How many accounts can I have my student account refund deposited to?
  24. If I complete Direct Deposit Enrollment through My ASU, do I still need to bring in a copy of a voided check or a savings deposit slip?
  25. What should I do if I still have questions?

Direct Deposit to your bank account is the fast and efficient way to receive student account refunds, including financial aid.

In order to comply with NCAA and ICA regulations regarding posting and disbursing of ICA monies, active and potential athletes will not be included in Direct Deposit. Athletes may enroll in student account Direct Deposit, but refund checks will be produced instead of Direct Deposit transactions while you are an active athlete. If your ICA athlete status becomes inactive you will be included in Direct Deposit.

Login to My ASU, and select Finances. On the right side of the screen under the Financing Task section, select the Direct Deposit link. Follow the link and instructions to set up or review your direct deposit banking information. Remember to select "Save" at the bottom of the screen.

The account must be with a U.S. bank and can be either a U.S. checking or savings account.

 

You must deactivate your Direct Deposit Enrollment prior to creation of the refund to have a check mailed.  Login to My ASU, select My Finances in the Quick Links box on the left-hand side, then select 'Direct Deposit Enrollment' in the Helpful Links section on the right-hand side.  Click 'Deactivate Direct Deposit' to begin receiving refunds by check via postal mail.  Remember to update your address through My ASU (My Profile tab).  

Tuition credits are processed through Student Accounts. Tuition credits first pay outstanding charges on student accounts and any remaining balance is refunded. If you enroll in Direct Deposit, your tuition refund will be deposited electronically to your bank account.

Your student account Direct Deposit enrollment will be active two weeks after enrolling. If refunds are issued to you in the two weeks following enrollment, payment will be made by check and mailed. Remember to keep your address current through My ASU.

 

Financial aid is first used to pay charges on student accounts, with any remaining balance being refunded to the student. If you enroll in student account Direct Deposit, financial aid in excess of university charges will be refunded to you and Direct Deposited to your bank account.

You can view your Direct Deposit information and status online at My ASU by selecting My Finances from the Quick Links box on the left-hand side, then selecting Direct Deposit Enrollment in the Helpful Links section on the right-hand side.  If the bank reports a problem with the information you provide we will contact you prior to the enrollment becoming active.

 

Enroll a month before the semester begins to ensure that financial aid is deposited to your bank account. Refunds issued prior to your Direct Deposit Enrollment becoming active will be made by check and mailed.

You may specify a bank account other than your own for refunds, for example a parent's bank account. You are responsible for specifying the correct account and maintaining accurate banking information with ASU. Once a Direct Deposit refund is processed, ASU cannot cancel or reverse the transaction.

If you enroll in Direct Deposit per the guidelines, financial aid refunds will be deposited electronically to your bank account starting the week before classes begin for the fall and spring semesters.  To qualify for the earliest availability, you must register for classes, complete your financial aid packet, and accept your financial aid at least two weeks before classes begin.  

Maintaining current bank account information is very important. You can change your Direct Deposit information online by logging in to My ASU and clicking My Finances from the Quick Links box on the left-hand side, then selecting 'Direct Deposit Enrollment' in the Helpful Links section on the right-hand side.  Simply update your banking information and click Save.

Yes. Refunds are issued throughout the semester and Direct Deposited to your bank account if you are enrolled in student account Direct Deposit.

Contact the Student Accounts Office at 480.965.6341 to receive information and instructions.

To deactivate your Direct Deposit Enrollment, login to My ASU, select My Finances in the Quick Links box on the left-hand side, then select Direct Deposit Enrollment in the Helpful Links section on the right-hand side.  Click 'Deactivate Direct Deposit' to begin receiving refunds by check via postal mail.  Remember to update your address through My ASU (My Profile tab).  

Tuition, residential life charges, student health charges, library fines, and miscellaneous department charges are billed on student accounts.  You may view unpaid student account charges and make payments online through My ASU by clicking on My Finances from the Quick Links box on the left-hand side.  

At the beginning of the semester, Direct Deposit refunds are processed as frequently as financial aid becomes available.  During the rest of the semester, Direct Deposit refunds are processed on Tuesday and Thursday for deposit to your bank account two to three days later.  (The schedule is adjusted for holidays.)  

You can review the transactions posted to your student account, including refunds, on My ASU by selecting My Finances from the Quick Links box on the left-hand side, then clicking View History.

No. If not enrolled in Direct Deposit, a check will be mailed. Remember to keep your address current through My ASU (My Profile tab).   

Yes, ASU has taken steps to safeguard the banking information stored on its computer systems. It is important that you keep your UserID and password secure so that unauthorized persons cannot log onto My ASU.

The Routing Number is sometimes referred to as the Transit Number or the ABA (American Banker's Association) Number.  The Routing Number is used to identify the particular financial institution that you bank with and it can be found:

  • Checking Accounts - The routing number is found at the bottom of your personal check.
  • Savings and Other Types of "Savings" Accounts - Deposit slips may not include the correct routing number. For accounts other than checking accounts, contact your financial institution to obtain the correct routing number to use.

You may only specify one account at any given time.

No. The Direct Deposit Enrollment function available through My ASU requires you to submit all necessary information. If the bank reports a problem with the information you provide we will contact you prior to the enrollment becoming active.

Contact the Student Accounts Office located in the Student Services Building room 230 or call 480.965.6341.