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Frequently Asked Questions about Non-Payroll Direct Deposit

What is a "Financial Institution"?
The term applies to banks, credit unions, or savings and loans where you have your checking or savings account. We often refer to your financial institution as your "bank" for simplicity.

Do I need to include my Bank Routing Number and Account Number to sign up for Direct Deposit?
We cannot directly deposit your funds without your bank's routing number and your account number. If you have a checking account, this will be a series of numbers on the bottom of your check. If you are using a savings account for direct deposit, or only have your debit card for reference, you will probably need to contact your bank for these numbers.

Can I directly deposit funds to a financial institution outside of the United States?
No, Direct Deposit is available in US currency to US financial institutions only.

example check

FOR STUDENTS:

Why should I sign up for direct deposit?
Direct Deposit is University Policy. Financial aid is now given to you electronically so that you receive your money as soon as possible. Checks are not available in our office.

If I signed up for direct deposit last semester will it still be in effect?
Your direct deposit authorization will remain in effect until you change it or until you have not been a registered student for at least three semesters. If you close your account, you must inform us so there will not be a delay in getting your money to you.

Does the account have to be in my name?
You may designate someone else's account, such as your parent's account, as long as the student signs the authorization.

Reminder: After you sign up for Direct Deposit, please keep us informed if you close or change your account. To remove your information, contact Financial Services at 417-836-5632.

FOR EMPLOYEES:

Why Should I sign up for direct deposit?
Allows for faster transfer of funds securely into your bank account.

How often do I need to update my Information?
Direct Deposit information stays secure in the software until updated

Is this direct deposit the same as my payroll?
No, Payroll direct deposit is separate. You can sign up for direct deposit for payroll by checking the last check box that authorizes us to direct deposit your payroll.