[ Cashier's Office ]
Payment Types
The Office of the Cashier accepts various types of deposits to transact
University business. The University accepts foreign currency; however, we highly
encourage payments and/or deposits to be in US dollars and drawn on a
United States bank. The various types of payments are outlined below:
Cash
The Cashier’s Office accepts cash transactions. However, we do not
encourage individuals to carry large amounts of currency to or from the
Cashier’s Office. If you need special arrangements to deliver cash, please
notify us at 215.898.7258. We will accommodate your needs accordingly.
| Cash depositors must wait for a receipt from the Cashier's Office |
Checks
All checks must be payable to The Trustees of the University
of Pennsylvania. Due to the volume of checks that we receive, we cannot accept
responsibility for processing checks that are not issued correctly; this would
include, but not limited to, post-dated checks, stale dated checks, unsigned
checks.
Domestic Check
A check is a demand instrument used to transfer funds from the payor to the
payee. Once the Cashier’s Office receives a check, the item is deposited
to the University’s deposit account held at Wachovia Bank. It is important
to remember that every check must have a magnetic ink character recognition (MICR) line
located on the bottom of the check. This MICR line is required in order for the check to be processed
appropriately. The MICR line includes the transit routing number, payor’s
account number, and the sequence number (most likely the check number).
International Check
The University accepts international checks that are drawn on foreign banks and are issued
in foreign currency or United States currency. These items will be processed through foreign collections.
Once these items have been collected, the Cashier's Office will adjust the deposit and process the amount
collected. The amount collected depends on the number of corresponding banks that the check
needs to be processed through before reaching its final destination. The University incurs a processing
fee on each foreign item collected. Therefore, this fee will be charged back to the school/center deposit
account using object code 5324 (bank fees). An
international check is any check not drawn on a U.S.
bank.Note: Please review foreign items carefully because some items may appear to be foreign but
can be processed as domestic checks. In order for an item to be processed and clear as a domestic
item, the check must be in United States dollars and the United States bank's clearing information
must be indicated on the check. This information
would include, but not limited to, bank name, ABA Number (bank routing number), bank account number.
Traveler’s Checks
The University accepts domestic and international traveler’s checks as
deposits and payments. These instruments are pre-paid drafts and carry a
guarantee from the place of purchase.
| Travelers' checks are considered "checks" and must be counted as such when preparing on-line deposits. |
Money Orders
The University accepts money orders as payments and/or deposits. A money
order is a payment instrument with attributes similar to checks. For the most part,
money orders clear through the same channels as a check. The University accepts
domestic and international postal money orders.
| Money orders are considered "checks" and must be counted as such when
preparing on-line deposits.
|
Domestic Money Order
A domestic money order can be purchased, for a fee, at a local bank,
convenience store, etc. that offers the service.
International Postal Order
An international postal order is a way to transfer funds to individuals or
companies in countries that have entered into agreements with the United
States Postal Service for the exchange of postal money orders. The
University accepts international postal money orders written in United States
dollars. These items are processed within the normal United States check
clearing procedures and no collection fee is assessed to the University.
International postal money orders issued in the following countries may be processed in the United States.
- Bahamas - Aqua/White Background
- Barbados - Yellow Paper
- Belize - Pale Green Paper
- British Virgin Islands - Green Card
- Canada
- Dominica - 2 Part/Both Copies Needed
- Japan - Pink Card (Note Validity Period)
- Montserrat - Beige/Buff Color Card
- Peru - Orange & White Paper
- St. Kitts - Nevis - Green Card
Reminder: International money order must be in US dollars.
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