Financial Disbursement

Managing, processing, and handling financial aid refunds and payroll distribution for your faculty, staff and student workers can expend a tremendous amount of your time and resources — if you are distributing paper checks or using a traditional ACH process.

With Acceluraid you can eliminate the hassles of delays, long lines at the financial aid office, check delivery and reconciliation issues.

Here’s how it works:

• Our partner bank, Central National Bank (CNB), creates a prepaid debit card for each student to make on- and off-campus purchases.
• School-branded Discover® debit cards satisfying Title IV, Regulation E and PCI requirements are mailed to students.
• Your staff calculates the awards, excess disbursement amounts and payroll distributions, then prepares a non-proprietary, simple ACH file and submits it to the bank to load student debit cards.
• Heartland provides students access to their Discover card information, transaction history and transfers to other accounts through its portal, Acceluraid.com

With Acceluraid, you can reduce or eliminate student personal account information stored onsite, as well as update student records automatically.

Acceluraid lets you:

• Eliminate paper checks and/or manual ACH direct deposits.
• Eliminate collection and maintenance of student bank account information.
• Disburse all campus refunds, college work study and payroll directly to students’ financial accounts.
• Eliminate 99% of returned checks.
• Comply with PCI and Title IV regulations.

And your students will be able to:

• Receive financial aid refunds 5-7 days sooner than with traditional checks.
• Use their debit card anywhere Discover cards are accepted.
• Access funds at ATMs or as cash back at purchase.
• Utilize a 24/7 call center for any questions.