Get your student refunds faster!

With the implementation of Workday as the new HR system, there have been several changes to the way the student refunding process works, too.  Effective December 5th, 2018, students can enter Canadian banking information into Quest to allow us to send your student account refunds by direct deposit. This includes refunds of student financial aid, scholarships, awards, bursaries, GRS, tuition benefit, and tuition refunds for dropped courses, switching programs or changing residence/meal plan. Note that we can only make deposits into the specified Canadian bank account; we cannot withdraw funds from your bank account.

Direct deposit is a secure and convenient way to receive your student refunds without any postal delay. Not only will you be able to access your funds more quickly, you can also be sure they are not lost, stolen or damaged in the mail.

Who needs to update their information?

  • If you are a student, update your Quest account by adding your Canadian banking information.
  • If you are a student and a uWaterloo employee, or a grad student working as an RA or TA, you will need to add your Canadian banking information in both Workday and Quest to enable direct deposit for both employment earnings and other student-related payments. Human Resources will send instructions on how to update banking information in Workday as part of your onboarding process.

For security reasons, students may be prompted to Two-Factor Authenticate (2FA) prior to being able to enter their banking information. Students who are off campus will be permitted to view or edit their banking information in Quest by opting-in and using 2FA. Students who do not want to opt-in to 2FA at this time can still change their banking information from an on campus location. 
Please note that later this year security changes will be made such that all students who have enrolled in 2FA will get a 2FA challenge when they log into Quest. Additional details regarding 2FA for Quest banking is outlined in the May 13th news item. For instructions on how to set up 2FA on your mobile device, please see IST's 2FA website.

What you need before you enter your banking information in Quest

You will need to gather the following personal information:

  • your student number;
  • the name of your Canadian bank or financial institution, or the bank ID number;
  • the branch or transit number, and;
  • your bank account number.

Your banking information can be found at the bottom of any cheque for the account in which you would like to have your payment deposited.

blank cheque

If you do not have a chequing account, you can ask your financial institution for this information or find it in your online banking site.

TD customers, please see the TD website for instructions on finding your 5-digit transit/brand ID.

By adding your banking information, you are agreeing to allow the University of Waterloo’s Finance department to deposit student refunds directly into your specified Canadian bank account. Remember, this information can only be used to allow us to send a payment directly to your bank account. It cannot be used to transfer funds from your bank account to your student account.

Step-by-step instructions on how to add or change your banking information are available on the Quest- Student Information Systems Help page. 

Questions?

If you have any questions or concerns, please contact Student Financial Services.

Paying your Tuition?

If you have an account at a bank in Canada, the best way to pay your student fees is by bank payment.  If that isn’t possible, we can also accept a certified cheque, money order, or bank draft from a Canadian bank.

To make an international tuition payment, use one of our approved international payment options. These services are convenient, cheaper than a traditional wire transfer, and post quickly to your student account.  You can also pay in the currency of your choice and get a competitive exchange rate.

Don’t forget to check the date tuition is due to avoid late fees and account holds.