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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
  • Direct to Debit: Direct to Debit via an Original Credit Transaction (OCT) enables refund recipients to receive funds instantly on their Visa or Mastercard debit card instead of waiting for a direct deposit or a mailed check
  • 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

Resources

Refunds: Options for All Use Cases

Webinar recording

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Refunds

Solution sheet

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Idaho State lowers costs and speeds delivery with innovative refunds solution

Customer success story

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