The University of Texas Health Science Center at Houston and MD Anderson Cancer Center School of Health Sciences offers direct deposit of excess financial aid funds. If you are interested in direct deposit, but have never had direct deposit and don’t know what to expect, the commonly asked questions and answers below may better acquaint you with what direct deposit is and how it will affect you.

• What is Direct Deposit?

  • Direct Deposit means your financial aid funds will go directly to your bank account without you having to go to the bank to deposit your check.

  • Direct Deposit is a major ACH (Automated Clearing House) application used to automatically deposit recurring payments to an individual’s account.
    

• Are students required to use Direct Deposit?

  • No one is required to use direct deposit. It is totally the student’s choice to elect to use the direct deposit benefit.
    

• What are the benefits?

  • It is convenient. Financial aid funds are deposited automatically.

  • No more trips to the Financial Aid office to receive paper checks or waiting to receive checks via mail.

  • It eliminates the possibility of lost or stolen checks. Lost checks take several days to replace.

  • It eliminates the inconvenience of missing lunches or classes to go to the bank, of standing in line, or of waiting at the bank drive-in windows.

  • Deposits of financial aid funds are posted quickly, therefore reducing the possibility of overdraft.
    

• Does it cost anything to have my check direct deposited and can I cancel the direct deposit application at anytime?

  • No, it does not cost to sign up for direct deposit.

  • Yes, you may cancel your direct deposit application at anytime (once cancellation request is received allow 48 hours for processing to occur).
    

• How do I sign up?

  • Go to http://www.uth.tmc.edu/finance/treasury/pdf/Direct_Deposit_Application.pdf
    to download the direct deposit application.

  • Complete and sign the direct deposit application and attach a voided check to the form.

  • Be sure to write “VOID” across the check.

  • Return the completed form along with a voided check to:
    
    Treasury Management
    7000 Fannin, Suite 901
    Houston , Texas 77030
    
    Please submit the required documentation to Treasury Management department 48 hours for processing.
    
    If you have questions, please call (713) 500-3860.