UF is now requiring students receiving financial aid to sign up for direct deposit.
In the past, students have had the option of receiving paper checks from University Financial Service via U.S. Mail. This service will no longer be available beginning in the fall.
According to Ruth Harris, associate controller for the Department of Financial Services, the university is encouraging students to make this change to their myUFL accounts before the fall semester begins.
Direct deposit is a banking method where checks are deposited electronically into a bank account. A notification is sent to the owner each time a transfer is made into the account. The university can make these transfers to any bank in the U.S.
"There are challenges with the addresses of students changing and the office not knowing until after the check has been delivered," Harris said. "This policy will eliminate replacement checks and the possibility of a lost check. It is the fastest, safest way to get money to the students."
Officials say direct deposit will also save the college money by reducing costs associated with producing, mailing and tracking undelivered checks.
To sign up, the student has to go to my.ufl.edu and select "Access myUFL" to log in. On the top toolbar, click "Main Menu" and then choose "My Campus Finances." Once on the campus finances page, select "Student Direct Deposit."
Students can also visit the University Financial Service Web page, fill out an authorization form and bring it to the office in S-113 Criser Hall. This account change can be done anytime throughout the semester and takes 24 hours to take effect if done online. It takes three weeks if the authorization form is used.
Signing up for direct deposit does not delay or affect financial aid or fellowship disbursement in any way.
