Direct Deposit - Financial Aid
ACH Direct Deposit of Financial Aid
Beginning Summer 2002 Minot State University will offer direct deposit of excess financial aid. This is a convenient means of providing students an electronic transfer to your bank account. You may have your excess financial aid deposited to any financial institution within the Federal Reserve System. Please contact your financial institution if you are uncertain whether your financial institution is within the Federal Reserve System.
Direct deposit forms will be mailed with all award letters. The original direct deposit form and voided blank check for checking accounts or saving deposit slip for saving accounts must be returned to the Business Office. Faxes will not be accepted. At least ten banking days are needed between the receipt of this form and the effective payment date of this authorization. A new authorization must be completed if you change your account, close your account, or change financial institutions. If an ACH direct deposit is returned because an account closed, etc., the student's direct deposit form will be voided and a check will be written within 5 working days.
A direct deposit remittance advice will be sent to the address listed on the direct deposit form. If you did not get a direct deposit form with your award letter a form is available in the Business Office or it can be printed here.
Questions or comments can be directed to:
Minot State University
Business Office500 University Ave W
Minot ND 58707