Student Accounts: Direct Deposit
About This Policy
Montclair State University offers the use of DIRECT DEPOSIT for all types of refund checks that are generated by activity on your student account. Your money will be deposited directly into your checking or savings account. To participate in this service all you will need to do is complete a Direct Deposit form.
The advantages of this service:
- Easy management of your account using NEST (Network Engagement and Student/Staff Transactions). There will be no need to visit an administrative office to complete the form.
- You will not have to worry about your check being lost, stolen or misplaced.
- Easy accessibility of your money via your checking or savings account.
- No need to make a special trip to Student Accounts or home for the weekend to pick up your check.
- It will not be necessary to travel to a bank to deposit or cash your check.
- The opportunity to use some of the benefits offered by your banking institution such as online banking services, ATM service and a debit card.
Direct Deposit Questions & Answers
What is Direct Deposit?
Direct deposit is also known as Electronic Funds Transfer (EFT). It is the transfer of funds from Montclair State University to an individual student’s checking or savings account at a participating bank, savings and loan association or credit union. Direct deposit delivers your money quickly and safely. The difference is a check isn’t printed or mailed.
Are there any costs for my participating in Direct Deposit?
No, the program is offered as a service to our students.
I’m interested in Direct Deposit, but I do not know if it is for me?
If you have an account, visit your bank or credit union. They can answer your questions about Direct Deposit. If you do not have an account, consider opening one. Many banks offer a variety of accounts, some with little or no fees.
Where do I sign up for Direct Deposit?
You can log onto your NEST account and complete the form online. You can also visit Student Accounts in College Hall, Room 218 and use the terminals on the counter. You can easily manage your information by using your NEST account which is generally available 7am to 11pm, Monday-Friday and noon to 6pm, Saturday–Sunday.
The enrollment form asks for my checking or savings account number and my bank’s transit routing number. How do I find that information?
Checking and savings account numbers are normally noted at the bottom of checks and deposit slips as well as the nine digit bank transit routing number. In order to avoid confusion on properly recording your bank’s transit routing number, you can bring a voided check or deposit slip to your bank or Student Accounts. Someone will help you complete the form.
When can I use my money?
Your money is available for use as soon as it is deposited into your account. You can write checks, withdraw money and transfer into different accounts. Anything you usually do with your money now, you can also do with Direct Deposit.
After I sign up for Direct Deposit, do I have to stay with the same bank?
No, you can use Direct Deposit at any bank. If you move your account to another bank, you can change your information by logging onto your NEST account or by visiting Student Accounts in College Hall, Room 218. If you choose to enroll in Direct Deposit but subsequently change your mind, you can deactivate your account also using NEST.
Who should I contact if I have any questions?
You may contact the office of Student Accounts at 973-655-4105 or the Financial Aid office at 973-655-7022.