eRefund Program - West Virginia University
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Transcript eRefund Program - West Virginia University
eREFUND
Agenda
RFP Process
Refund Statistics
Project Plan
Additional Benefits
eREFUND Program
Refund History
Process 60,000 refunds to 20,000 students
Receive 55,000 calls - 15% are refund related
Distributed refunds via paper checks through
regular mail service
Labor intensive
Bad addresses
Time lag in getting checks into students hands
Students walking around with either large checks or
large amounts of cash
RFP Objectives
Increase level of service &
convenience
Decrease distribution time
Decrease refund processing
costs
Establish a bank presence
on campus
RFP Requirements
Processing & Disbursement of Student Refunds
Direct Deposit of Student Refunds
Debit Card Services
Co-Branded Card
Ability to Integrate Mountaineer ID Card
Full Service Bank on Campus
On Campus ATMs
Revenue Stream to Help Offset Costs
Project Implementation
Steering Committee Led Project Implementation
• Refund Team
• Contract Team
• Bank Branch Team
• Marketing Team
Refund Team
Demographic/Payment File Development
Customization of Banner/Oracle Interface
Refund Procedure Development
Stale Dates/Unclaimed Property
Contract Team
Negotiate Terms to
Meet Goals &
Objectives
Promote Long Lasting
Relationship
Legal Review
Bank Branch Team
Branch Locations
• Mountainlair
• Community
ATM Locations
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Mountainlair - Hatfields
Mountainlair - PNC Branch
Mountainlair - Garage
Mountaineer Station
Health Sciences Center
Mineral Resources Building
Brooke Tower Lobby
Marketing Team
Naming of Program
Development of Marketing Materials
Student/Parent Communication
Student Refund Program
PNC Payment Portal
Refund Options
Communications
Support
PNC Payment Portal
Refund Options
Direct Deposit to a PNC
Checking Account
Direct Deposit to an
Existing Bank Account
PNC Prepaid Visa® Card
Disposable Card
Paper Check
(Default Option)
Direct Deposit PNC
Option A: PNC Virtual Wallet SE / Free Checking
Accounts
• Account opening available online – Real-time
• Includes all student checking features for statements,
online banking, check cards, etc.
• Immediate access to funds via checks, online, ATM, &
POS
Direct Deposit - ACH
Option B: ACH To Other Financial Institution
• No student fee applies
• PNC verifies and maintains routing and account
information
• Students can update anytime 24/7
Prepaid Visa Card
Option C: PNC Prepaid Visa® Card
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Free signature and PIN based transactions
Free access to any PNC ATMs for cash withdrawals
Online transaction history
No bank account required
Additional Student Features
E-Mail Alerts:
• Alert for each refund/payment occurrence
• Alert once a confirmed preference is chosen or changed
Confirmation includes name, address, e-mail & refund
preference
• Alert for incorrect ACH information
• Annual reminder to active students summarizing
preferences and mailing address
Update user profile including:
• Add preferred e-mail
• Update mailing address
• Change payment method
Administrative Access
Administrative Access
Secure Access
Upload Files
Validate Data
View Reports
Student Communications
University Website
Student Newspaper
Parent’s Club
Student Orientation
Banners / Posters
Mountainlair
Transit
Mailings to
Freshmen
Student Communications
Giveaways
Promotions
Student Communications
Sweepstakes
Online Sweepstakes to
drive students to select
Direct Deposit Option
Posters & Flyers guide
students to online entry
site
Over 5700 entries received
Activations indicate higher
ratio of Direct Deposit
preferences compared to
Card & Check option
Student Survey
“I already have a local bank
account”
“I don’t have to worry about
changing my address every
semester”
“eREFUND is easy”
Refund Statistics
60%
50%
56.90%
48.70%
40%
31.30%
30%
25.90%
20%
13.10%
10%
9.30%
9.50%
2.40%
1.70%
1.10%
0%
Default
Checks
Q Ended 9/09
ACH
PNC
Paycards
Q Ended 3/11
Additional PNC Benefits
PNC/WVU Account Options
PNC Branch/ATM’s Located on Campus
Financial Literacy Programs
Workplace Banking
University/Community Contributions
PNC Virtual Wallet®
Spend
Save
Grow
27
New PNC Branch/ATM
New PNC Full Service Branch – Suncrest Town Centre
New ATM – College of Law
Financial Literacy Tools
29
Cobranded Website
Workplace Banking
31
Questions
Dixie Paletta
[email protected]
Bill Freisleben
[email protected]