Can you withdraw money from McMaster Student Account if there's excess in it or is that not possible?

If you have excess money in your account that you wish to withdraw/take out, you need to email or visit the Student Accounts and Cashiers and they will send you a cheque. It usually takes 2 weeks to get the cheque.

a cheque will automatically be mailed to you as well

Originally Posted by FireDragoonX

a cheque will automatically be mailed to you as well

Do you actually know roughly when they send automatic cheques? I've always wondered but I can't find anything on it.

Originally Posted by jhan523

Do you actually know roughly when they send automatic cheques? I've always wondered but I can't find anything on it.

don't know exactly how it works
I dropped a term 2 course around Nov. 5th, so I had an extra $600 in my student account
on my account statement it says cheque mailed on Dec. 17

Originally Posted by FireDragoonX

don't know exactly how it works
I dropped a term 2 course around Nov. 5th, so I had an extra $600 in my student account
on my account statement it says cheque mailed on Dec. 17

Oh ok, probably somewhere near the end of the terms then. Thanks.

Yeah I was wondering about that too because I just had my OSAP pay off what I owe the school, but if I get a bursary, which is decided on the 29th, there would be extra money. I just wish they decided bursaries before OSAP was given out. The only real way around it is to sit there and on the 29th run down to the bank and transfer the money. Ugh.

I love starving for 3 months while waiting for the school to give me my money.

If they owe me money, and they hold on to it for that long, dont they owe me interest?

Originally Posted by Rossclot

Yeah I was wondering about that too because I just had my OSAP pay off what I owe the school, but if I get a bursary, which is decided on the 29th, there would be extra money. I just wish they decided bursaries before OSAP was given out. The only real way around it is to sit there and on the 29th run down to the bank and transfer the money. Ugh.

I love starving for 3 months while waiting for the school to give me my money.

If they owe me money, and they hold on to it for that long, dont they owe me interest?

They are giving you free money though and you don't even know how much they are giving you. It's different when you owe the school money because they are providing you with a service.

But when they are sitting there with my money for months, my money is providing them with a service, that's how money works.

Originally Posted by Rossclot

But when they are sitting there with my money for months, my money is providing them with a service, that's how money works.

Do they really even need to provide you with a bursary?

Originally Posted by Rossclot

Yeah I was wondering about that too because I just had my OSAP pay off what I owe the school, but if I get a bursary, which is decided on the 29th, there would be extra money.

If I am remembering correctly, students who were rewarded with a bursary last year were mailed a cheque. The money did not go into their student accounts. I assume the same will happen this year. So, if you are granted a bursary, there won’t be “extra money” in your student account.

Originally Posted by rrtt

If I am remembering correctly, students who were rewarded with a bursary last year were mailed a cheque. The money did not go into their student accounts. I assume the same will happen this year. So, if you are granted a bursary, there won’t be “extra money” in your student account.

Unless you owe the school money. Then the bursary will go directly into your student account. After that a cheque will be mailed out with the difference probably near the end of the term. You can also withdraw the money.