Title

Electronic Funds Transfer (EFT)

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?

  • Employees - Follow the instructions in the Managing Bank Accounts user guide
  • Suppliers can sign up for electronic payment when they register with Ithaca College
  • Students must register as suppliers to receive reimbursement