Refund Choice
Join colleges achieving over 90% Direct Deposit participation with Herring Bank’s Student Refund Account Choice. It’s Simple, Safe, and Secure.
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Paper Checks Are Costly. Direct Deposit Is Smarter.
Processing and mailing paper refund checks isn’t just outdated—it’s expensive. Herring Bank
helps campuses modernize with a guided, student-friendly Direct Deposit system that lowers
costs and improves satisfaction.
How It Works:
1. Students select their own bank account for refunds
2. Or, they can open a no-hassle Herring Bank account in minutes
3. Our process ensures compliance, speed, and security
Why Colleges Choose Herring Bank
✓ Over 90% Direct Deposit Participation
✓ Fully FERPA-Compliant and FDIC-Insured
✓ Branded setup with your school’s logo & messaging
✓ Reduce refund delays, staffing needs, and costs
Ready to Ditch the Check?
See why colleges trust Herring Bank.
Paper checks cost time and money.
Direct Deposit for student refunds is more cost-effective.
Herring Bank’s Student Refund Account Choice option reduces the need for paper checks.
Our process guides students to select their personal bank account to receive refunds faster.
If the student does not have a bank account, the process allows the student to quickly sign up with a no-
hassle bank account with Herring Bank.
It’s Simple. Safe. Fast.
By offering the Herring Bank student account option, colleges can achieve over 90%
participation in Direct Deposit.
You might be wondering about…
What is the Student Refund Account Choice program?
The Student Refund Account Choice program by Herring Bank allows students to receive their refund payments via Direct Deposit, eliminating the need for paper checks. Students can choose to use their own personal bank account or open a no-hassle student checking account with Herring Bank.
Why should students choose Direct Deposit over paper checks?
Direct Deposit is faster, safer, and more cost-effective than paper checks. It reduces delays, eliminates the risk of lost checks, and ensures students receive their refunds as quickly as possible.
How fast are refunds processed?
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Herring Bank student accounts receive refunds the same evening they are funded.
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Non-Herring Bank accounts receive refunds on the next business day.
What if a student doesn’t have a bank account?
No problem! Students can quickly and easily open a Herring Bank-sponsored student checking account during the refund selection process—no credit checks or complicated paperwork required.
Is the system secure and compliant?
Yes. The solution complies with Education Department guidelines and annual reporting requirements. All refund designations are handled securely, and student account data is safely stored at Herring Bank.
How do students choose where to receive their refunds?
Students log in to their college’s portal and securely designate their refund preference in real time—whether to an existing bank account or a new Herring Bank student account.
What happens if a student doesn’t make a refund selection?
Colleges may offer optional check printing services for students who do not make a selection, ensuring that everyone receives their refund.
What are the benefits of using a Herring Bank student account?
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Faster refund delivery (same-day credit)
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No-hassle account setup
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Email alerts before refund disbursement
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Convenient access to funds
Can the college manage and edit disbursements?
Yes. Herring Bank’s software allows school administrators to manage and edit the Refund Disbursement file up until final approval, helping ensure accuracy and flexibility.
Does this solution work with our school’s ERP or SIS system?
Yes! Herring Bank offers seamless integration with several popular college ERP or Student Information Systems. A non-integrated solution is also available if needed.
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