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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  2022-2023 Award Year
Number of students with financial accounts  1,367
Mean  $17.63
Median  $2.00

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

Card Operations Payment to Saith Louis University: N/A
2022-2023 Total Non-Monetary Consideration: N/A

Marketing Commitment to Saint Louis University: N/A
2022-2023 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.

U.S. Bank Smartly Checking Account for Young Adults (age 18-24)1

Monthly Maintenance Fee Per Purchase   ATM Transactions2 Cash Reload Overdraft Paid Fee



*Monthly maintenance fee waived until you turn 25 (otherwise $6.95/month)




$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 and/or for overdrawn Available Balances of $50.00 or less 


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

$0 U.S. Bank ATMs or $2.50 non-U.S. Bank ATMs*

*First four non-U.S. Bank ATM fees waived per statement period 


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 17 other types of fees. Here are some of them:

Wire Transfer fee4

Incoming (domestic internal): $15

Incoming (domestic): $20
Incoming (international): $25*

*First two incoming wire transfer fees waived per statement period

Outgoing (domestic internal): $25

Outgoing (domestic): $30
Outgoing (international): $50

International Processing Fee

U.S. Dollars: 3% of transaction

Intl Currency: 3% of transaction

This account is eligible for FDIC insurance.

1. Benefits listed are from the Young Adult customer group (ages 18-24) as listed in the Consumer Pricing Information disclosure. A minimum deposit of $25 is required to open a U.S. Bank checking account. 2. ATM Transaction Fee: U.S. Bank will assess this fee for each ATM Transaction conducted at a Non-U.S. Bank ATM. Non-U.S. Bank ATMs are defined as any ATM that does not display the U.S. Bank logo in any manner, physically on the ATM or digitally on the screen. ATM Surcharge: Non-U.S. Bank ATM owners may apply a surcharge fee on ATM transactions at their ATMs. U.S. Bank participates in Moneypass® an ATM surcharge free network. To find Moneypass ATM locations, select “visit the Moneypass Locator “ at the bottom of our ATM locator search results to be taken to the Moneypass website. If you use an ATM that uses the Moneypass® Network and are charged a surcharge fee, please call us at 800-USBANKS (872-2657) for a refund of the surcharge fee. 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.

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.