The University of the Incarnate Word (UIW) is offering students the option to sign up for eRefunds (electronic refunds). This process will allow refunds to be issued directly from UIW into students’ checking or savings accounts. Students will have to submit a Direct Deposit Authorization form to the Business Office to enroll in the program. All bank information is treated with the utmost privacy, and the direct deposit can be canceled upon written request at anytime.
A refund occurs when your financial aid exceeds the charges on your account. Disbursements of refunds begin the first business day after the 100% drop date. Deadlines are posted on the Academic Calendar.
You will receive an email notification or you may check your refund status by accessing your secure student account on myWord. When you see a refund transaction on your student account, the funds should be deposited in your bank account within two to three business days. You can also contact your financial institution to verify the deposit prior to writing any checks or attempting to withdraw the funds. The University is not responsible for NSF fees you may incur in your bank account.
Students not wishing to participate in the eRefund program will still receive printed refund checks which will be mailed to their permanent address on file.
eRefund will enable students to benefit from faster delivery of their refunds. We encourage all students to consider this option. If you have questions on this program, please contact the Business Office at 210-829-6043 or via email at firstname.lastname@example.org.
I signed up for electronic refunds this quarter/semester. Do I have to sign up again next term?
No, your account for direct deposit remains in effect as long as you are in school. Just remember that if your checking or savings account information changes, you MUST submit a new application to the Business Office to make the appropriate adjustments.
Can I designate more than one account for electronic refund deposits or set up my refunds to be deposited into my parents' account?
No, all funds must be deposited in one account in your name.
What if my account is with an out-of-state bank?
Refunds can go to any financial institution within the United States.
Will someone notify me when funds are deposited to my account?
Yes. You will receive email notification or you may check your refund status by accessing your student account on myWord. When you see a refund transaction on your student account, the funds should be deposited in your bank account within two to three business days. You can also contact your financial institution to verify the deposit prior to writing any checks or attempting to withdraw the funds.
Will you ever go into my checking account for any reason other than to make a deposit?
In the event that funds are disbursed to you in error by direct deposit, the University reserves the right to debit your account for the amount of overpayment. Otherwise, the Business Office will not use the information contained on the Direct Deposit Authorization form for any purpose other than direct deposit transactions.
Can my parents sign up for electronic refunds?
No. The electronic refund option is only available for student tuition account refunds. Printed checks for parent refunds will be mailed via the United States Postal Service to the permanent address on file.
What happens if my bank account information is invalid (ie, closed account, incorrect account number, etc.)
The Business Office receives a notification of any accounts that are invalid. Those accounts will be deleted from the system, and the individual (student or authorized user) will be required to resubmit the information. Until valid bank account information is received by the business office, printed refund checks will be mailed to the permanent address on file.