eRefunds
Student disbursements and campus refunds are easy, safe, and reliable with TouchNet, offering a full range of refund solution options.
Meet Student Expectations
Most individuals expect to receive their refund or reimbursement as quickly as possible. Bill+Payment offers a wide range of refund solutions and disbursement options, allowing colleges and universities to provide payers a choice. Institutions can select which options to enable that best meet expectations for fast refunds, while balancing cost, security, and operational requirements.
Refund Options
- Direct Deposit: Refunds are processed and delivered via direct deposit (ACH) to the student’s bank account, allowing schools to refund students in one to two business days
- Digital Check: With a digital check, recipients are emailed a digital copy of the check. Once received they can choose to print it to take it to their bank to deposit or use their bank’s app to deposit
- Paper Checks: Students typically receive paper check refunds in three to five business days. Delivery can take up to 30 days in some instances
- Credit Card Refunds: Schools with an eRefunds license can refund a student’s credit card payment back to the credit card on file. Refunds can be processed through PayPath for schools offering this solution
Benefits
- Convenient—Students can conveniently select from multiple refund methods, allowing institutions to meet student expectations for refund options and timing
- Secure—Integration with your SIS and our multi-factor authentication ensures that cardholder data is safe
- Compliant—Multiple disbursement methods means you are in compliance with Title IV requirements
- Instant Communication—Students and authorized users receive automated notifications of refund status
