Canada Presentations

McMaster University fully utilized People Soft Campus Solutions and Finance to a develop an email refund method from Student Financials refunds to Accounts Payable payments.
Value added:
1. No storage of banking information
2. No storage of incorrect banking information, e.g. bank account number = credit card number first 12 digits
3. No payments to incorrect person’s bank account and no negotiating with financial institutions to try to reclaim funds when the bank account owner takes the money and runs
4. Time saving - To collect the correct banking information and re-refund the payment through the bank when the EFT payment is rejected is time consuming: Remove the refund from the student account, contact the student, get the information, re process the refund.
4. Refunds not actioned after 30 days are automatically returned to the University.
5. Streamlined process to add returned refunds back to the students account.