Indiana University has an alternative for students who have a credit balance on their student account: Direct Deposit of Bursar Refunds. Bursar refunds are deposited automatically into your checking or savings account. It is an easy alternative to waiting in line to cash your check.
To get started, use the "Direct Deposit Sign Up" link on the Student Self-Service page in OneStart in the Services and Information section under "Financial."
Why Sign Up for Direct Deposit?
When you sign up for direct deposit, you will no longer have to wait while your refund is in the mail. As soon as it is released, the money is in your account!
- No check to be lost or delayed in the mail.
- No waiting for the check to clear.
- No special arrangements to make if you're on an internship or studying abroad.
- Sign-up takes less than 5 to 10 minutes.
- Allow one business day to process your sign-up transaction. You will receive an e-mail confirmation of your transaction (no bank information is contained in the message).
- If you change accounts or banks, return to OneStart and make the changes on-line. Allow one business day to process any changes made to your account. You will receive an e-mail confirmation of your transaction.
How Will It Work?
- You will receive an e-mail from the Office of the Bursar confirming the amount of the refund and the date it was transmitted to your bank.
- Confirm with your bank that your refund has been deposited into your checking or savings account before writing checks against these funds.
- In the unlikely event that your bank does not accept the direct deposit, the Office of the Bursar will review the problem and notify you. (This most frequently occurs due to an incorrect bank account number or routing number, or a mismatched account type.)
If you have any questions, please contact us. We are always happy to help in any way we can.