A completed Direct Deposit Authorization Form may be:
Sent via mail to:
VCU Treasury Services
PO Box 843074
Richmond, VA 23284-3074
924 W. Franklin St., 1st Floor, room 103
Place in drop boxes located:
Harris Hall, 1st flr, outside of Cashier's Office
VMI Building, 2nd floor, just off the elevator
Direct Deposit Authorization Form may be printed here.
Notify Disbursement Operations immediately and in writing:
Once activated, your Direct Deposit Authorization remains in effect throughout your VCU enrollment. New authorizations are not required each semester.
**Check your current authorization by loggng into eServices and selecting >Student>Student Account>Student Direct Deposit and Eletronic Funds Transfers.**
If you do not have a bank account, you have other options.
As a U.S. entity, VCU is obligated to comply with the requirements of the United States Department of Treasury Office of Foreign Assets Control (OFAC), which oversees payments sent outside the territorial jurisdiction of the United States. This includes automated clearing house (ACH) payments processed by VCU for payroll, student refunds, vendor invoices, and travel reimbursements. Effective September 18, 2009, new requirements were implemented for domestic and international fund transfers. As a result, there are new formatting requirements for these transactions to which VCU must comply.
VCU is now obligated to identify as an “International ACH Transaction” (IAT) any direct deposits that are (1) made by VCU to a financial institution located outside the U.S., or (2) made by VCU to a domestic financial institution if that financial institution immediately transfers the full deposit amount to an international financial institution in a “back-to-back” transaction. VCU will require employees and students to confirm, at the time they enroll in direct deposit of their payroll or student refund disbursement, that the full amount of the direct deposit is not being forwarded to a bank in another country; and if at any point a standing order is established to forward the full direct deposit to a bank in another country, they will inform either VCU Payroll Services (employees) or VCU Treasury Services (students) immediately.
There are alternative methods of payment available to employees and students; therefore, if you believe you are affected by these new requirements, please contact Payroll Services at (804) 828-0740 or Treasury Services at (804) 828-2138.