DIRECT DEPOSIT INFORMATION

DIRECT DEPOSIT is a safe and easy way to have funds deposited directly into an account at the financial institution of your choice in the United States. Students can use Direct Deposit for Student Accounts Refunds, Fellowship Stipends, Travel Reimbursement, and Payroll Wages.
ADVANTAGES

• CONVENIENCE:  You will not need to make special trips to the bank.  Your check is automatically deposited while you are here or away.

• SECURITY:
  Your check cannot be lost in the mail, sent to an outdated address, stolen or misplaced.

• RELIABILITY:  Your money will always be in your account on time.

• FLEXIBILITY:
  It's easy to switch accounts or change banks.  Simply update your information online through SIS (if you are a student only) or U.Va. Employee Self Service (if you are an employee and a student).

QUESTIONS/ANSWERS
Q: What type of payments will the University make by direct deposit?

  1. Student Account Refunds;
  2. Fellowship Stipends;
  3. Employee Wage Payments; and
  4. Travel Reimbursements.

Q: How do I begin using direct deposit?
A: Students at UVA may select to have any payments that are made to them be processed by electronic Direct Deposit.  To sign up for this service, log into the Student Information System and go to your Student Center.  Under the Finances section, you will find the link to the secure online electronic form to submit your information.  Click on the link (example shown below) titled Sign Up for Direct Deposit.

 

DD1

 

If you do not have existing Direct Deposit information on file, you will be taken to a blank page for you to complete the required information. You must select whether the account information you are providing is for a Checking or Savings Account.  You must provide your Bank Routing number and the Account Number.  After you have indicated your Bank’s Routing Number, press tab, and the Bank name will appear automatically.  Verify that the Bank Name that appears is in fact your bank.  You will be asked to enter your account number twice for verification purposes.  A sample check showing the location of the information required is provided for your reference on that page.



dd2


If you already have banking information on file with the University, you will be taken to a page with your current information.  You can update the existing information if you have changed banks or account numbers. 

DD3

STUDENTS WHO ARE ALSO EMPLOYEES OF U.Va.
If you are both a student and an employee of the University, you must use U.Va. Employee Self Service to provide or update your Direct Deposit information.  If you log in through SIS and click on the Sign Up for Direct Deposit link, you will receive the following message, with instructions for where to go to update your banking information.  The URL to sign in to Employee Self Service is:
http://www.virginia.edu/integratedsystem/selfservicelogon


The message you would receive in this case is shown below:
5

If you receive the message above, log into the U.Va. Employee Self Service at the address on the message.  Click on the U.Va. Employee Self-Service link to open your options.  Once in the folder, click on the Banking Information link as highlighted below.


6

This will take you to your existing Direct Deposit instructions.  To request that your student payments (stipends or refunds) be processed by Direct Deposit, click on the Update link to the very right of your screen, indicated by the picture of a pencil (as shown below).


7

 

Clicking on the Update link will take you to a screen that contains your existing banking information.  Validate that your information is correct.  To select the option for your student reimbursements and stipend payments to be processed by direct deposit, find the “Reimbursement Account” box as highlighted below.  Select the Yes option (highlighted below) to indicate you want all payments from U.Va. to be made directly to the bank account indicated.  Then click on the Apply button.


8

This will update the information in the Accounts Payable system so that all payments will be processed by Direct Deposit.

If during the process of updating your records, you encounter any error messages, please follow the instructions provided on the message.
After successful completion of updates to your direct deposit information, an email confirmation will be sent to your virginia.edu email address.  If you receive an email indicating that your direct deposit information was updated and you DID NOT update your information, please follow the instructions on the email for ensuring your information is correct and that your data is secure.  Please be sure that you do not share your netbadge password with anyone else, as this could compromise the security of your information. 

Any Direct Deposit related questions should be directed to payroll@virginia.edu.

Q: How is money deposited into my account?
A: The University's bank will electronically instruct your financial institution to credit your account for the amount owed to you on the predetermined date.  Your financial institution then deposits this money into your account and charges the University's bank account.  You may have an account at almost any financial institution in the United States. 

Q: When can I access the money deposited into my account?
A: Your money will be available to you the morning of the payment date.  The money may be in the account and available for use, but not show up in a voice response/ATM balance until one day later.  If you are unsure of a deposit having been made, contact your financial institution.  Ask to speak directly with their ACH Account Coordinator for direct deposit.  This is quicker than if you deposit a check, in which case you might not have access to your funds until the next day or later.

Q: How can I be sure my deposit was made?
A: If you are receiving a direct deposit that is related to a refund or stipend payment from SIS, you will receive an e-mail message or a written notification that a direct deposit has occurred. The deposit will be reflected on your monthly statements from your financial institution.

Q: What if there is a discrepancy between my bank and the deposit notice I received from the University?
A: Notify your financial institution and the University immediately.  You have up to 60 days from your account statement date to notify your bank in person, by telephone or in writing of an unauthorized deposit or incorrect deposit amount. (If you notify them in person or by telephone, you may also be required to provide a written confirmation within 10 business days). If the financial institution needs more than 10 business days to investigate and resolve your situation, it must credit the amount in question to your account during the investigation.

Q: What if I terminate or close my account?
A: Update your banking information through SIS or through U.Va. Employee Self Service (see information above about updating your information)

Q: How do I make changes for direct deposit?
A: Update your banking information through SIS or through U.Va. Employee Self Service (see information above about updating your information)

Q: Do I need a bank account to use direct deposit?
A: Yes. A US bank account is necessary for you to receive direct deposit payments. Some financial institutions offer free or low-cost checking or savings accounts when you use direct deposit.

Q: With direct deposit, can the University take money out of my account or obtain confidential information about me through my deposit?
A: No!  Only you can approve the withdrawal of money from your account. The University cannot obtain your account balance or any other personal information. They only have access to the information you provided when you signed up for Direct Deposit online.  Receiving your money through direct deposit is more confidential than being paid by check because fewer people are involved in the delivery and deposit of your payment.


 


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