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
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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
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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
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Secure Access
Upload Files
Validate Data
View Reports
Student Communications
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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
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New PNC Branch/ATM
 New PNC Full Service Branch – Suncrest Town Centre
 New ATM – College of Law
Financial Literacy Tools
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Cobranded Website
Workplace Banking
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Questions
Dixie Paletta
[email protected]
Bill Freisleben
[email protected]