Electronic Funds Transfer (EFT)

PLEASE NOTE: EFT payments via Accounts Payable is not related to your paycheck
 

What is Electronic Funds Transfer?

Electronic Funds Transfer (EFT) is an electronic transfer of funds through a national automated clearinghouse directly into your bank account.

What are the Benefits of EFT?

  • Saves money! “Going green” reduces Ithaca College's expenses for: customized check paper, envelopes, postage, and specialized toner
  • Eliminates mail time, misdirected and misplaced checks
  • Assists employees, students and suppliers by depositing payments directly into savings or checking accounts

How do I sign up?

  • Print and complete the EFT Authorization Form
  • Select “New Authorization”
  • For checking accounts attach a copy of a voided check from your bank account
  • Sign and send your completed form to Accounts Payable via fax (607) 274-7336 or mail (West Tower 14th Floor)

How do I update/change my bank information if I am currently set up for EFT payments with Accounts Payable?

  • Print and complete the EFT Authorization Form
  • Select “Change Information for Existing Authorization”
  • For checking accounts attach a copy of a voided check from your new bank account
  • Sign and send your completed form to Accounts Payable via fax (607) 274-7336 or mail (West Tower 14th Floor)