- What is Direct Deposit? Direct Deposit is the electronic transfer of money into any domestic checking or savings account. Instead of receiving a paper check, the student account refund goes directly into any domestic bank account chosen by the student.
- Do I still need to sign up for student accounts direct deposit if I already have direct deposit through payroll? Yes, if you want your student account refund direct deposited. This program does not include or affect any existing direct deposit information associated with payroll for employees or students.
- When will my funds be deposited to my student account? Refunds will continue to follow the same refund schedule. As such, Financial Aid refunds will be processed based on eligibility for the disbursement. Once the aid has disbursed, your refund will be processed the next business day.
- How long will it take for me to see my refund in my bank account? From the time that the refund generated in the MyUMUC portal, you should see the funds in your bank account within 3-5 days.
- Can I change my bank account information? If so, how? No, you will need to go into the MyUMUC portal and add a new bank account. Then you can delete accounts not assigned for direct deposit or just select the account that you want to have your funds deposited into.
- Can I cancel direct deposit after I sign up? Yes, but you must submit a written request have direct deposit cancelled. Requests can be sent to: UMUC Stateside division via email at email@example.com or via fax at 301-985-7858.
- Can I add multiple bank accounts and divide my refund? No, not at this time. Currently, you can setup multiple accounts, but funds will only be deposited into the single account you select.
- What if I closed my bank account and forgot to update the MyUMUC portal? UMUC will make every attempt to deposit funds into the account provided. However, if our attempts are unsuccessful, a refund check will be processed and mailed to the address UMUC has on file.
- Can I have the refund that was requested yesterday deposited into my account? No, direct deposit will only apply to those refunds requested after your account information has been updated in PS.
- Can I use a non-US bank account? No, refunds can only be deposited into a US bank account.
- I signed up for direct deposit, but my funds were processed through the state and I received a check -- why did this happen? This can occur for several reasons:
- There was a liability offset and the state garnished a portion of your refund;
- The bank account information was invalid;
- You signed up for direct deposit after the refund was requested.
- Is there a fee for using direct deposit? No, UMUC offers this feature to all students free of charge.
- How long will it take for my information to be processed and direct deposit to occur? Setup is immediate after confirmation within the MyUMUC portal. All refunds processed after your setup is complete will be processed through direct deposit.
Students can now sign-up for direct deposit through the MyUMUC portal. To do so, they must select "Account Inquiry".
Select "Account Service"
Select "Enroll in Direct Deposit"
Create a "Nickname" and complete all fields. A Sample Check view is available to assist students with identifying where the routing number and account number are located. Click "next".
The next step is the "agreement". Students much agree to authorize UMUC to deposit funds into the account provided on the prior page. Once they read the agreement, they need to check the box and click submit.
You will be presented with a confirmation that the bank information was successfully added. At this point, click "Proceed to enroll".
Now that the bank account has been added, the student will need to actually select the account for direct deposit. Students can currently only add one bank account which will receive 100% of the refund (we will revisit this decision later to determine if we want to allow multiple accounts) therefore, from the drop down option, they will only see one option. Once the account has been selected, click "next"
Once the student has identified the bank, they will need to confirm by clicking "Proceed to enroll".
Student must read and accept the Terms of Agreement for permitting UMUC to deposit funds electronically.
Confirmation of enrollment!