Sign up for Direct Deposit (eRefund)
Students can choose to have any refunds automatically deposited in their personal bank accounts using the eRefund section of CASHNet. Refunds might include excess financial aid or fees refunded when you drop a class.
Bank account information needs to be setup 14 days in advance of when the refund is processed so your bank account information can be verified.
If you signed up to have your refund or excess financial aid directly deposited into your bank account, the university will begin authorizing those refunds 7-10 days before classes begin. We continue to authorize additional deposits daily, as they are approved. Once authorized, a direct deposit will appear in your bank account within 2-4 business days.
Here's what happens when ISU authorizes a direct deposit: The direct deposit is sent to our electronic financial services provider (CASHNet) at the end of each day. CASHNet transmits the authorized refund to Key Bank (ISU's bank) overnight. As required by banking policy, ISU's Office of Financial Services verifies the total amount the following morning.
Key Bank then begins distributing the amount to the bank where the student holds an account. If the student account is at Key Bank, the funds should appear in their account within a day or two. However, banking regulations allow banks up to three days to make funds available when they are transferred between banks. In the extreme, this means that a student with an account at another bank may not receive the funds for up to four days after ISU authorizes the direct deposit.
Please note, if your bank account information is not completely set up and verified before your refund is
processed, the system will automatically send a check to your mailing address.
Follow the instructions below to enroll in eRefund:
- Login to BengalWeb
- Choose the Finances tab
- Go to the Online Fee Payment channel
- Click on Enroll in eRefund
- When orange Student Account Online CashNet screen opens, click on the Click here to enroll in eRefund link in the eRefund channel. Follow the instructions to setup your account.