Direct Deposit of Refunds

Students may sign up to receive refunds via direct deposit (ACH). This means payments can be deposited directly into the student's bank account with no waiting for a check to be mailed. Students who do not sign up for direct deposits will have refund checks mailed to their student mailing address, as maintained in the Office of Registration and Records, in the student's name.

Important: See withdrawal for information on refunds for students who cease class attendance prior to the end of a semester or term.

Instructions for Direct Deposit

Students can sign up for direct deposit of student refunds via the MyISU Portal. Students can also view and change direct deposit allocations at the same site.

  • Go to
  • Log in using Sycamore login and password.
  • Click on "My Banner Self Service Links."
  • Click on "Finance" and then "Direct Deposit for Accounts Payable and Student Refunds."

If the student already has an allocation, it will be displayed on the screen. To change the current allocation or sign up for the first time, click on "Change Direct Deposit Allocation" and follow the instructions. Any new allocations will be noted with a status of "Inactive" until reviewed by the Office of the Controller. Once approved, the student's allocation will be changed to "Active" and any previous allocations will be removed. Allocations changed and created via the Web will be processed daily, Monday through Friday.

Note: Students may also sign up by submitting this Direct Deposit Authorization Agreement Form (in pdf format with type-in fields) via fax to (812) 237-8179. Forms may also be brought to the Office of the Controller or mailed to Indiana State University, Office of the Controller/Financial Accounting, 200 N. 7th Street, Terre Haute, IN 47809. Due to processing time required, it may take up to five business days for the request to go into effect. However, the average processing time is about two business days.

How Direct Deposit Works
  • The student will receive an e-mail from the Office of the Controller confirming the amount of the payment or refund and the date it was transmitted to the student's bank.
  • The student should confirm with their financial institution that the payment or refund has been deposited into their account before writing checks against these funds.
  • In some cases, students may still receive a paper check even after they have signed up for direct deposit. The University reserves the right to provide the refund in the form of a paper check when necessary. For security reasons, all e-mail notifications of student refund direct deposit payments will be sent to the student's official ISU e-mail address, regardless of the e-mail address on the form. This service is not available for Parent Plus loans.
  • In the unlikely event that the student's bank does not accept the direct deposit, the Office of the Controller will review the problem and notify the student. This most frequently occurs because the student has entered an incorrect bank account number or routing code during the sign up process. See the image below for help with finding the routing/transit code and account number. Do NOT include a check number or any spaces, dashes or special characters within the account number.

     Sample Check Image


Office of the Controller
Financial Accounting
Indiana State University
Parsons Hall
200 North 7th Street
Terre Haute, IN 47809
(812) 237-3535
(812) 237-8179 (fax)



The University Board of Trustees reserves the right to change fees at any time in the future. The right to correct errors is also reserved.