When you set up a direct deposit, funds will be delivered directly into your bank account. This is currently the only way to receive your money from a 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
Your direct deposit will expire on the Student Service Centre (SSC) after five years. If your direct deposit expires, you will need to re-enter your banking information.
Setting up direct deposit
Before you set up direct deposit
Be extra careful when adding your banking information. Make sure your mailing address on the Student Service Centre (SSC) is valid and up to date with a postal code or zip code. This will prevent errors and avoid delays processing your funds.
How to set up direct deposit
To set up direct deposit, you will need a chequing account at a Canadian financial institution.