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[ Cashier's Office ] Miscellaneous Change Policy The Cashier’s Office does not make change. Any local bank may be able to accommodate any change requests.Coin Deposits The Cashier's Office accepts bulk coin deposits, however, the coin is subject to count by Wachovia Bank. If your department has a coin deposit in the amount of $20.00 or more, place the coin in a secured moneybag (obtained at the Cashier's Office), prepare a separate on-line deposit and forward to the Cashier's Office. We will process the coin deposit according to your deposit. Wachovia Bank, however, may make adjustments according to the final coin count. The Cashier's Office will process any adjustments and will forward notification of change to the University preparer of the coin deposit. Please call 215.898.7258 to obtain coin bags.Courier Services The Office of the Cashier has negotiated a contract for courier services. If your school or center needs to arrange for the transport of currency please contact the Cashier's Office at 215.898.7258. We would appreciate receiving advance notice of courier service needs.Deposit Slips All University deposits are processed on-line via BEN Deposits.For more information on BEN Deposits please visit http://www.finance.upenn.edu/ben/bendep/ or contact the Cashier's Office at 215.898.7258.
Endorsement of Checks Departments are required to endorse their checks before submitting to the Cashier’s Office. The hand stamp includes the University’s name, account number, department name and the department org number. Please contact the Cashier's Office at 215.898.7258 if you need to place an order for an endorsement stamp. The cost of the stamp (approx. $25) is the department's responsibility.Exchange Rates If you would like to obtain the current exchange rate, we found the web-site: http://quote.yahoo.com/m2?u to be helpful. Please remember that currency rates continuously fluctuate.Report of Cash Payments Over $10,000 Any department receiving cash payments in the amount of $10,000 or greater from one transaction must notify the Office of the Cashier. The University is required to file IRS Form 8300 each time such payments are received.Returned Checks Any checks returned by the University of Pennsylvania’s depository bank as uncollected are sent to General Accounting in the Comptroller’s Office which, in turn, forwards them to the Cashier’s Office to identify. Examples of returned checks include: non-sufficient funds (nsf), account closed, payor’s signature missing, refer to maker and post-dated or stale-dated checks.The University does not re-submit returned checks. Once the Cashier’s Office receives the returned check, we will identify the depositing department and debit the account that was initially credited. We will forward the original check and documentation to the preparer of the original deposit slip. In addition, our bank assesses a service fee for each returned check. The Cashier’s Office, to offset bank costs and our processing costs, will charge the service fee back to the originating department using object code 5324 (bank fees). The originating department should notify the check writer and use due diligence to collect the amount of the check and the service charge from the payor. Generally, restitution should be in the form of currency, money order, cashier’s check or certified check.
Safekeeping of Funds Cash should be physically protected through the use of vaults, locked cash drawers, cash registers, locked metal boxes, etc.Counterfeit Money All authorized departments are responsible for exercising reasonable care in determining cash transactions for counterfeit currency. We have been in contact with Abagnale & Associates to obtain some helpful hints (approved by the United States Secret Service) on how to detect counterfeit paper. They suggest the following test:
We hope this information is valuable. If you think your department has received a counterfeit bill, please notify the Office of the Cashier at 215.898.7258. The Cashier’s Office can obtain confirmation of the bill's authenticity by forwarding the bill to the United States Secret Service located in Philadelphia. As a final suggestion, the Cashier’s Office has purchased over 200 counterfeit detector pens. These pens are made of a special patented formula that detects bad bills. The pen allows you to make a small mark on United States paper money and if a light mark appears the bills passes the test, however, if a dark mark appears the bill is suspect. If you would like to obtain a few counterfeit money detector pens for your office, please let us know!
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