1. What is an eRefund?

eRefunds are refunds from your UW-Stout student account, electronically deposited directly in a United States checking or savings bank account designated by you.

 

2. Why is UW-Stout requiring eRefunds?

There are several reasons why UW-Stout is excited about going exclusively to eRefunding:

  • Students Surveyed-
    Students stated on a banking relationship satisfaction survey:
    - 82% of students had a checking account opened prior to attending UW-Stout.
    - They wanted refund clarity.
    - They wanted an electronic refund disbursement option.

  • Convenient- students can avoid trips to and lines at the bank and update their eRefund profile 24/7 /365 as needed.
  • Secure- students enter their own banking information into the system so there is no need to share account information with another person. Also, no lost or stolen checks in the mail.
  • Cost Effective- eRefunds reduce the costs associated with paper checks for both UW-Stout and the student( i.e.- check stock, postage, envelopes, transportation to the bank, time, stop payment fees etc..)
  • Environmentally Friendly- eRefunds reduce paper consumption.
  • Reliable- If you move, money is not being mailed to an old address.

 

3. Are eRefunds Secure?

TouchNet is fully certified for both PA-DSS and PCI-DSS.
PA-DSS: Payment Application Data Security Standard (PA-DSS) is the certification that all vendor applications which accept,process or store payment card information must meet.
PCI-DSS: Payment Card Industry Data Security Standards (PCI-DSS) is a detailed set of security requirements that applies to all merchants with regard to payment card acceptance.

4. Is my personal account information safe?

Yes. Once you sign up, your information becomes part of an electronic transaction that is sent through the safe and secure ACH Network. In fact, fewer people see your information with Direct Deposit via ACH compared with paper check processing.

5. Are there any exceptions to eRefunds?

The only exception to eRefunding is if the credit is the result of Parent Plus loan. If requested, the refund will be sent by paper check to the parent.

6. What if I change bank accounts?

You will need to update your eRefund profile in TouchNet immediately.
If funds are sent to a closed or invalid account:

  • The funds will be returned to the University.
  • A $20.00 non-refundable return charge will be added your student account.
  • You, the student, will be notified by e-mail from UW-Stout.
  • A new eRefund will be issued once the account has been updated.

7. Can I set-up my parents or someone else to receive the refund?

eRefunds will be deposited into any valid United States checking or savings account designated by you, the student.

 

8. How do I set-up a direct deposit for my refund?

9. Do I receive notification when the eRefund has been sent?

Yes, you will receive and e-mail when the eRefund has been initiated, but please allow up to five business days for the funds to be deposited into your bank account. Be sure to verify with your bank that the funds are available before using them.

 

10. Why would I be receiving a refund?

Students receive a refund when a credit balance is created on their student account. The reason(s) for the credit may be due to one or more of the following:

  • Grants, Loans or Scholarships in excess of student account charges.
  • Personal overpayments.
  • Account adjustments.

11. Can my Authorized User set up an eRefund account profile?

No. Only students can designate an account for the eRefund profile. Authorized Users do not have access to this option.

 

12. Will money be taken out of my eRefund account?

The eRefund account will only be used for depositing.
If you have the same account saved for making online payments you are the only one who can initiate that transaction.

13. I am an International student and I do not have a United States bank account?

Currently, we have three local banks that work with international students and do not require social security numbers when setting up a new checking or savings account. If you have questions regarding this please call, stop in or e-mail International Student Services.

14. How has Student Business Services communicated eRefunds to the campus community?

  • Student Business Services communicates via UW-Stout e-mail to students who have NOT signed-up for eRefunds.
  • Campus Life Today
  • Student Business Services Website
  • International Education Newsletter
  • Memorial Student Center (MSC) Television
  • Rack Card
  • Facebook
  • One Stop