Receive Funds Faster: Sign Up for EFT Now! Published: August 13, 2018 By: Larissa Charnsangavej What’s the fastest way to receive your stipend or financial aid refund? By direct deposit to your bank account! If you are expecting a stipend or financial aid refund and have not signed up for Electronic Funds Transfer (EFT) to receive your funds via direct electronic deposit to your bank account, you can sign up via CalCentral now. Activation may take up to seven business days. Until EFT is activated, paper refund checks are printed and held for you to pick up at Cal Student Central (120 Sproul Hall). But why wait in line for a paper check this fall, when you can save steps and time through EFT?