Answer

This happens most frequently with student accounts. What happens mostly depends upon the bank. In some cases, the bank will reopen the student's account and deposit the money. In most cases, the bank will electronically return the money to NDSU's bank account and notify the NDSU Accounting Office. This will take from 1 to 5 days, depending on the bank. When the Accounting Office receives notification that money is returned they will follow-up and get payment to the individual by check, as soon as possible. If the Accounting Office shows a direct deposit was made and the funds have not been returned to NDSU, student's can contact their bank to follow-up on what the bank did with the money.

2) How long does it take for the money to physically get into the employee's or vendor's bank account?

Answer

The money will show up in the employee's or vendor's bank account at the start of business on the second business day after the payment is entered by the University.

Examples are as follows:

a) If the Payroll Office enters an employee Flexcomp reimbursement on a Monday, the money will be in the employee's bank account at the start of business on Wednesday.

b) If the Accounting Office enters an employee travel voucher on a Tuesday, the money will be in the employee's bank account at the start of business on Thursday.

c) If a University department or the Accounting Office enters a vendor invoice on a Wednesday, the money will be in the employee's bank account at the start of business on Friday. How are refunds from vendors and/or employees handled?