Direct Deposit of Financial Aid Refunds & Student Accounting Overpayments
Submit a Direct Deposit Authorization Form to add a new account, change or cancel an existing account.
A completed Direct Deposit Authorization Form must be submitted through DocuSign by clicking here.
Once activated, your Direct Deposit authorization remains in effect throughout your VCU enrollment. New authorizations are not required each semester.
**Check your current authorization by logging into eServices and selecting >Student>Student Account>Student Direct Deposit and Electronic Funds Transfers. Your banking information will be at the bottom of the page.**
If you do not have a bank account, you have other options.
- Make your VCUCard more valuable and convenient by making it your banking card too. Use it at ATM's to get cash.
- Inquire about student checking accounts at nearby banks and credit unions.
Important Notice About International ACH/Direct Deposit
As a U.S. entity, VCU is obligated to comply with the requirements of the United States Department of Treasury Office of Foreign Assets Control (OFAC), which oversees payments sent outside the territorial jurisdiction of the United States. This includes automated clearing house (ACH) payments processed by VCU for payroll, student refunds, vendor invoices, and travel reimbursements. Effective September 18, 2009, requirements were implemented for domestic and international fund transfers. As a result, there are formatting requirements for these transactions to which VCU must comply.
VCU is obligated to identify as an “International ACH Transaction” (IAT) any direct deposits that are (1) made by VCU to a financial institution located outside the U.S., or (2) made by VCU to a domestic financial institution if that financial institution immediately transfers the full deposit amount to an international financial institution in a “back-to-back” transaction. VCU will require employees and students to confirm, at the time they enroll in direct deposit of their payroll or student refund disbursement, that the full amount of the direct deposit is not being forwarded to a bank in another country; and if at any point a standing order is established to forward the full direct deposit to a bank in another country, they will inform either VCU Payroll Services (employees) or VCU Treasury Services (students) immediately.
There are alternative methods of payment available to employees and students; therefore, if you believe you are affected by these requirements, please contact Payroll Services at firstname.lastname@example.org or Treasury Services at email@example.com.