Setting Up and Managing Student Bank Accounts

Access the Bank Accounts - Student page (Student Financials > Banking > Bank Accounts - Student).

This example illustrates the fields and controls on the Bank Accounts - Student page. You can find definitions for the fields and controls later on this page.

 Bank Accounts - Student page

Use this page to:

  • Set up multiple bank accounts for a student.

  • View or edit bank accounts that have been created by students using Self Service.

Note: This page is available only to administrative users. Also, administrative users who are currently logged in are not able to create nor update their own bank details.

When you set up a bank account for a student, an agreement type of Bank Account is inserted into the Agreement table (SSF_AGREE_TBL) when you save the page.

In update/edit mode, the only fields available are Status and Nickname. All other fields are view-only. In update/edit mode, you can add but not delete bank accounts.

When you set up or modify a bank account, data is inserted in the 3C trigger table with the Bank Event ID and institution to facilitate communication using 3C and the Comm Gen process. The Bank Event ID and institution are derived from the SF Installation setup only if the Bank Event ID is populated.

To prevent duplicate bank accounts, the system checks that the combination of EmplID, Routing Number, Branch, and Account Number is unique.

See Understanding Communications Setup.

If you click View All, data appears in descending order, that is, the most recent data is shown first.

Field or Control

Description

Country Code

Select a country code. Otherwise, the default value from the Common Objects component (Set Up Common Objects > Install > Country Table) is retrieved.

Currency Code

Select a currency code. Otherwise, the default value from the Common Objects component (Set Up Common Objects > Foundation Tables > Currency and Market Rates > Currency Code) is retrieved.

Status

Displays whether the bank account is active or inactive. By default, it is set to Active. This field is disabled when you are setting up a new bank account.

If you want to deactivate a bank account, change its status to Inactive. However, if a bank account is used for direct deposit distribution, this field is disabled and the message “This account is in use.” is displayed. To change the status to Inactive for a bank account used in direct deposit distributions, you must first deactivate the direct deposit distribution. When a bank account is inactive, you can no longer make changes from the Bank Accounts - Student page nor the Self Service page.

Routing Number

Select a routing number. The bank details record in the Common Objects component (Set Up Common Objects > Common Definitions > Banking) controls which values are available.

If you provide a BIC Code, this field displays the information derived from the BIC and appears as view-only.

Branch

Select a branch ID. This field appears depending on the country code and routing number.

If you provide a BIC Code, this field displays the information derived from the BIC and appears as view-only.

Account Type

Select an account type. By default, Checking is selected.

Account Number

Enter an account number. For security reasons, the account number is masked to show only the last 4 digits after you save the page. The account number is also encrypted and stored in the database.

If you provide a value in the IBAN field, this field displays information derived from the IBAN and appears as view-only.

Confirm Account Number

Enter the same value you entered in Account Number. This field is an added security measure and ensures that you provided the correct account number.

Check Digit

This field is available only when the IBAN field is not used. If the IBAN field is used, the value is derived from the IBAN and appears as view-only.

Account Name

Enter the name as it appears on the bank account.

Nickname

(Optional) Enter an alias for the bank account.

IBAN and BIC Code

If you provide the IBAN, you must also provide a BIC Code.

Student Financials uses the information on the IBAN Country Setup page (Set Up Common Objects > Common Definitions > Banking > IBAN Country Setup) to perform the required validation and prompt for values in the lookups.

  • If IBAN is not enabled and not required, or the country is not defined on the IBAN Country Setup page, the IBAN and BIC Code fields do not appear.

  • If IBAN is enabled but not required, you can provide values in the other bank information fields. The information is saved, and the IBAN and BIC Code are stored as blank.

    When bank details are derived from the IBAN and BIC setup, the details appear as view-only.

    For example, if you enter an IBAN value of NL51ABNA0401396312, the BIC Code becomes required. The BIC Code values that are available are all those for the country NLD, which are based on the IBAN value (the first 2 digits are always the country and the next 2 digits are always the IBAN check digit). You select a BIC Code of ABNANL2A (this is an available value because it is set up on the Branch Table in Common Objects). The Routing Number and Branch fields are populated and are view only—with the values 0150681 (BankID already set up for ABN Amro) and ABNANL2 (Branch ID) respectively. The Bank Name and Branch Name also appear.

  • If IBAN is enabled and required, you must provide a value for IBAN and BIC Code.

    The Account Number field is populated based on the IBAN value and appears as view-only. The other standard bank fields are view-only.

For security reasons, only the last four digits of the IBAN appear after you save the page. It is also encrypted and stored in the database.

See:

Direct Deposit

This link is available only after you save the page and only if you are authorized to access the Direct Deposit - Student page. Also, the AP Refunding Option must be set to Use Single Payment Voucher on the SF Installation page.

Click to access the Direct Deposit - Student page to set up or view direct deposit distributions.

NLD Accounts

This link is available only after you save the page and if you are authorized to access the NLD Student Accounts page.

Click to access the NLD Student Accounts page for the student whose bank account you are creating or updating.

See:

Last Updated By and Last Updated On

Last Updated By shows the OPRID and Last Updated On shows the date and time that the past was last modified.

See: