[ Cashier's Office ]
The Cashier’s Office does not make change. Any local bank may be able to accommodate any change requests.
The Cashier's Office accepts bulk coin deposits, however, the coin is subject to count by
Wells Fargo 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.
Wells Fargo 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.
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.
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. $63.00) is the department's responsibility.
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.
The University does not re-submit returned checks. Examples of returned checks include: non-sufficient funds (NSF), account closed, payer’s signature missing, refer to maker and post-dated or stale-dated 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 a copy of the check to the depositor via email. 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 payer. 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.
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:
Step I: General Appearance
You can detect bogus bills by becoming more familiar with paper currency. Most
counterfeits are made by a photo-mechanical process and the printing appears flat
and lacks the three dimensional quality of genuine notes. Look closely. The counterfeiter
does not possess the skill of the Government’s master craftsmen and does not have
access to sophisticated equipment.
Step II: Comparison
Look for differences not similarities.
Compare the suspect note with a genuine bill of the same denomination and series.
For close examination use a magnifying glass to study the quality of the printing, especially
the sharpness of the crossing lines in the background.
Crossing lines on bogus bills often appear ragged or partly merged.
Step III: Paper
United States paper currency is printed on special paper made with red and blue fibers.
Consequently, the bogus money makers either ignore these fibers or attempt to simulate them
by printing red and blue lines on the surface of the paper.
These fake marks can be removed merely by scratching or erasing the surface of the counterfeit.
Rubbing a bill is not a good test; ink will rub off either good or bogus bills.
Beware of the paper that feels extra light or heavy.
Step IV: Detail/Clarity
In counterfeit paper currency the portrait is lifeless and does not appear as lifelike as the real note.
Hairlines are not distinct. Saw tooth points on seals are usually uneven, blunt or broken off.
Fine border lines are not clear and distinct. In examining the bills, look for dullness
in the portrait and for extra dark or light shading.
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, you should purchase a counterfeit detector pen. This can be done through Telrose.