Bank Information Reminders
To ensure smooth stipend disbursements, it is important that grantees carefully follow directions in regards to bank information. If you transfer institutions and/or open a new bank account, it is your responsibility to inform IIE of the new bank account by uploading a new EFT Authorization form to the Grantee Service Portal.
- IIE cannot accept deposit tickets. You must submit a voided check or an official letter from the bank listing your bank account number and routing number.
- Grantees are responsible for ensuring that bank information submitted to IIE is accurate, complete and correct. IIE is not responsible for retrieving funds if incorrect bank information is submitted.
- Many bank accounts will automatically close or become inactive if there is a zero balance on the account. Please confirm that your bank account is open and active-It is a good idea to always keep some funds in your account so it will remain active. You may experience a delay in receiving your stipend if your account is closed due to inactivity.
- Grantees should ensure that they are not submitting duplicate bank information. If two grantees submit the same bank information, one grantee will receive two stipends and the other will not receive a stipend and fixing this error causes delays.
- Grantees may not share bank account information. All grantees are required to open their own U.S. bank account in order to receive any IIE-administered stipends.
Contacting IIE Regarding Financial Issues
If you have any questions regarding the grant polices or stipend information, please contact your IIE Student Relations Officer.