Direct Deposit Refunds

Direct Deposit/Electronic Funds Transfer (EFT three times a week)

Direct Deposit/EFT (Electronic Funds Transfer) is the safest and quickest way to receive your Financial Aid or credit balance refund.  The Direct Deposit refund is sent directly to your checking or savings account.

Credit balances on credit card payments made thru the UCSC eBill/ePay site are not refunded via direct deposit.  The funds will be refunded thru the UCSC eBill/ePay site back to the credit card used to make the payment.

1. Be sure that you have an active mailing or permanent address on your account. To review/update your address go to MyUCSC > Personal Information > Addresses.

2. Go to MyUCSC and follow these links to sign up:

My Account $ >> Sign up for Direct Deposit

IMPORTANT: DO NOT USE THE INFORMATION ON THE BOTTOM OF A DEPOSIT SLIP OR AN ATM/DEBIT CARD! You must use the correct 9 digit routing number. If you do not know your bank's routing number go to this link: http://www.routingnumbers.org/. You can always call your bank or login into your online banking for assistance with routing and account number information.

Direct Deposit Schedule

Refunds process 3 times a week on Monday, Wednesday, and Friday morning. Verify with your bank when your funds will be available. Banks post electronic payments between 24-48 hours after the disbursement.

IMPORTANT: You will remain signed up for Direct Deposit until you cancel the authorization. Please keep your bank information current to avoid delay in receiving your refund.

Notice to Students who Receive Direct Deposit Refunds

The University of California 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, such as direct deposits of payments to students. Effective September 18, 2009, the University is obligated to identify as an "International ACH Transaction" (IAT) any direct deposits that are (1) made by the University to a financial institution located outside the U.S. or (2) made by the University to a domestic financial institution if that financial institution immediately transfers the full deposit amount to a financial institution outside the U.S. in a "back-to-back" transaction.

If you have instructions with your recipient bank to immediately wire the full amount of the direct deposit to a foreign bank, we request that you complete a form that provides further details about the foreign transaction. The form, with instructions on completion and where to return, may be accessed here IAT Form Students.

To comply with OFAC requirements going forward, the University will require that students confirm, at the time that they request direct deposit of their checks to be set up, that the direct deposit is being made to a domestic financial institution and will not be part of a back-to-back transaction to a foreign institution.