What do I need to know about ACH payments?
To get started,
Log into your Student Portal and click "Settings" and select "My Preferences".
From the "Stored Payments" section, click the green "Add Bank" button.
After you fill in all the necessary information, the verification deposits will be placed in their bank account.
Revisit the Student Portal to enter the verification amounts in the "Stored Payments" section.
Once this has been done, you will be able to pay your auto- invoices using the bank account on file. (no transaction fees will apply)
1. Bank accounts must be verified before they can be used. Once a bank account is added, two small "verification deposits" will be placed in your bank account. You must edit the saved bank account details and enter those verification deposit amounts to confirm that you have the correct account details.
These deposits will take 1-2 business days to appear on your online bank statement. The statement description for these deposits will be AMNTS: and then the values of the two microdeposits that were sent.
2. When an ACH payment is initiated, your family's student portal account is automatically credited so everyone knows a payment has been sent.
Aside from those key points listed above, bank accounts behave the same way as credit card payments.