Direct Deposit

Direct Deposit

For self-service Direct Deposit, go to Employee or Student Business in Wolverine Access

What is direct deposit?

A Direct Deposit Authorization permits the University to send an Electronic Funds Transfer to a student’s personal checking or savings account. The student’s payment information can be seen in Wolverine Access under Employee Business for payroll payments and Student Business for financial aid payments.

Why should an individual participate?

  • Easy and Convenient - Direct deposit insures that participants receive their pay on the designated payment date without having to make a deposit in person.
  • Safe and Secure - Direct deposit safeguards against theft, loss, and forgery.

Where can a payment be directly deposited?

Payroll and financial aid payments can be deposited into a personal checking or savings account as long as the bank is a participating member of the National Automated Clearing House Association (NACHA). Most banks, savings and loan associations, and credit unions participate.

If you receive your payment via direct deposit, and then have the entire amount forwarded to a bank outside the United States, please advise Payroll Customer Service in the University Payroll Office. The University must follow specific formatting requirements for these transactions.

How many bank accounts may a payment go into?

An individual may select two accounts for the distribution of their payment.

When will the first deposit be sent to the designated bank account(s)?

When enrolling in direct deposit using Employee or Student Business in Wolverine Access, the amount from the individual’s next available paycheck or financial aid payment will be sent by direct deposit.

When and how should a student notify the Payroll Office of a change in banking information?

If a student changes banks, account numbers or they wish to cancel their direct deposit participation, the student must immediately change their information in Wolverine Access under Employee or Student Business. 

Note: If a student fails to update their banking information or to notify the Payroll Office when a designated direct deposit account closes, all funds previously submitted to the closed bank account will not become available until such funds are returned to the University of Michigan by the bank.

Attention Students
Direct deposit information must be kept updated over the summer in order to avoid any delay of payments in the fall.
For questions, please contact Payroll Customer Service.