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Federal Regulation: Cash Management

In accordance with the U.S. Department of Education, on October 30, 2015, new cash management regulations were published via the Federal Register (34CFR668.161-167).

The Program Integrity and Improvement rules require the Saint Louis University to account for, and disburse Federal Title IV funds in accordance to these regulations. This information is published to comply with these regulatory reporting requirements.

As provided by U.S. Bank, no later than September 1, 2017, and each year after, any institution with a T1 arrangement and any institution with a T2 arrangement that meets or exceeds the credit balance thresholds under 34 CFR 668.164(f)(2)(ii) must post certain information prominently on the same website where the institution posts its full contract with a financial account provider. The institution must disclose: 

1. For any year in which the institution’s enrolled students open 30 or more financial accounts under the arrangement, 
a)   The number of students who had financial accounts under the contract at any time during the most recently completed award year; and 
b)   The mean and median costs incurred by those student accountholders. 

Saint Louis University 

ID Linking Method w/ two-year co-hort  2018-2019 Award Year
Number of students with financial accounts  340
Mean  $18
Median  $1

2. The total monetary consideration paid or received by the parties under the contract; 

2018-2019 Campus Card Program Financial Summary 
Below is the total monetary consideration spent on behalf of the campus card program at Saint Louis University by U.S. Bank under the terms of the Campus Card contract in the 2018-2019 award year (July 1, 2018 to June 30, 2019): 

Base Rent Payment to Saint Louis University: $95,308
2018-2019 Total Monetary Consideration $95,308

3. The total non-monetary consideration paid or received by the parties under the contract; 

Marketing Commitment to Saint Louis University: N/A
2018-2019 Total Non-Monetary Consideration N/A

On March 23, 2001, Saint Louis University (SLU) entered a banking services agreement with U.S. Bank. The agreement, and subsequent amendments, do not include services for handling student related Title IV credit balance refunds. However, since many SLU students bank with U.S. Bank, the U.S. Department of Education requires that we publish the contract for public review by Sept. 1, 2016 (See below).

SLU is contracted to market and directly offer enrolled students the option to open an account with U.S. Bank. While your SLU ID includes the U.S. Bank logo, you are not obligated or required to open or maintain a financial account with U.S. Bank; nor are you required to open or maintain a financial account with U.S. Bank in order to receive your refund via direct deposit. You are also not required to obtain an access device offered by or through U.S. Bank. (Federal Regulations [668.164 (d),(e), (f)].). SLU encourages you to research a financial institution that best fits your financial situation and needs.

This information is included in the University's annual disclosure that is communicated to all enrolled students each academic year. For more information, view the contract established with U.S. Bank. 

Note that all future disclosures relating to these new regulations and banking services contract will be made to this webpage.

U.S. Bank Disclosures for Student Accounts

You do not need this account to receive your Federal student aid. Ask the financial aid office about other ways to receive your money.  

Monthly Maintenance Fee1 Per Purchase   ATM Withdrawal2 Cash Reload Overdraft Paid/Returned Fees






$0 U.S. Bank ATMs

$2.50 non-U.S. Bank ATMs




$36 for each item of $5.01 or more

$0 for each item of $5 or less


ATM Transaction means each withdrawal, balance inquiry,
denied transaction, fund transfer or deposit.
(Some ATMs have limited functionality)

$0 in-network or $2.50 out-of-network


Customer Service (automated or live agent)

$0 per call


Dormant account3 (after 11 months of no activity)

$5 per month


The financial institution offering this account charges 24 other types of fees. Here are some of them:

Wire Transfer fee4

Incoming (domestic): $20
Incoming (international): $25
Outgoing (domestic): $30
Outgoing (international): $50

Statement fee Paper Statement fee: $2

This account is eligible for FDIC insurance.5


All information applies to Student Checking accounts only. 1. AII regular account opening procedures apply. A
minimum deposit of $25 is required to open a U.S. Bank checking account. 2. No ATM Transaction fees charged on first four Non-U.S. Bank ATM Transactions per statement period (Non-U.S. Bank ATM Transaction fees apply after four). If a Non-U.S. Bank ATM Transaction fee applies, U.S. Bank will assess a fee for each ATM Transaction conducted at the NonU.S. Bank ATM. Additionally, Non-U.S. Bank ATM owners may apply a surcharge fee unless they participate in the MoneyPass® Network. To find MoneyPass ATM locations, please visit 3. Unless excluded by account type or prohibited or restricted by state law. 4. Additional fees may be deducted from the transfer amount by other financial institutions involved in the payment process. 5. The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government. FDIC insurance automatically covers funds in deposit accounts at U.S. Bank, including checking and savings accounts, money market deposit accounts and Certificates of Deposit (CDs). The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

For a comprehensive list of account pricing, terms and policies see the Consumer Pricing Information brochure and the Your Deposit Account Agreement. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657. Deposit products offered by U.S. Bank National Association. Member FDIC.