Direct deposit

About direct deposit

A direct deposit allows funds to be delivered directly into your bank account. This is currently the only way to receive your money from a UBC bursary, award, or scholarship. Direct deposit is convenient, safe, and fast.

When to set up direct deposit

You may be required to set up direct deposit if:

  • You have a tuition credit on file and are requesting a refund.
  • You’re expecting a bursary, award, or scholarship and may have a credit on file.
  • You're expecting funding from your US Loans.

Before you set up direct deposit

You will need a chequing or savings account at a Canadian financial institution or bank.

If you are taking 2024 Summer Session courses, confirm your banking information and mailing address in your Student Service Centre (SSC). This will prevent errors and avoid delays in processing your funds.

Find your banking details

Example cheque used to show where to find the transit, institution, and account number.

You can find your banking information at the bottom of your personal cheque.

If you don’t have a cheque, contact your financial institution for details. Some financial institutions allow you to view a digital cheque through online banking.

Set up your direct deposit

Learn how to set up your direct deposit in Workday for the 2024/25 Winter Session.

2024 Summer Session

If you’re taking courses in the 2024 Summer Session, you must add your direct deposit information in the Student Service Centre:

  1. Log into your Student Service Centre (SSC) and select “Banking Details - Direct Deposit” under Finances.
  2. Add the following banking information:
    • Your financial institution’s name
    • The institution and transit numbers
    • The account holder’s name and bank account number 
  3. Double-check your information to make sure it's correct.
  4. Once you have added this information, you can edit or change it anytime.

If you're on financial hold

If your financial account is on hold, it might mean that you haven't fully paid your tuition or fees and you have an outstanding balance in your financial account.

If you receive a bursary or award, the funds will automatically be paid toward your outstanding tuition fees. Once the outstanding tuition fees have been paid in full, any remaining credit can be requested as a refund.

You can still update your banking information while your account is on hold.

If you have questions