Direct Deposit

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 account refunds, Fellowship Stipends, Travel Reimbursement, and Payroll Wages (including work-study). A U.S. bank acount is required to sign up for direct deposit.

 

Due to UVA's transition to a new accounting system, access to sign up for direct deposit is suspended until at least July 7, 2022. Please check this page after that date for instructions.

 

 

Direct Deposit FAQs

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 UVa 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 UVa 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.