Cash & Debt FAQ
Visit Cash & Debt ManagementCash & Debt Management has prepared the following as a resource for the most common questions you may have about managing incoming funds.
Incoming Funds
May we post the General Receipts account information on our website?
No. To help prevent fraud attempts, we do not post our General Receipts account information publicly.
How do I get a bank reference letter?
Please send your request to dofcashmgmt@pobox.upenn.edu. Cash Management has bank reference letters for most University accounts.
Depositing Funds
How do I deposit cash or checks while working remotely?
The University has a variety of deposit options for those working remotely. Details can be found on the Depositing Funds page.
Why didn’t I receive a confirmation email for my Ben Deposit?
BEN Deposits dropped at the Franklin Building are processed daily. We are on a Hybrid schedule so there may be a one day delay receiving your email receipt. A member of Cash Management is on campus four days per week (Monday through Thursday) as well as the last business day of the month.
What hours can we access the Franklin Building?
8:30 AM to 4:30 PM
How do I deposit coin?
Small amounts of coin can be dropped off with your deposit and tracking slip. Large amounts need to be taken to the Wells Fargo on campus. This is located at the corner of 36th and Market. Do not wrap the coin. You will need to fill out a deposit ticket and include the University’s Receipt account number. Please contact “Cash Management” for this information at dofcashmgmt@pobox.upenn.edu.
Do we accept foreign currency?
Yes, the University can accept check and electronic payments received in a foreign currency. Checks received in a currency other than USD must be sent to Cash Management in accordance with the procedures listed in Depositing Funds. Electronic payments received in a foreign currency are converted upon receipt and deposited in the University’s account in USD.
How do I know if I have a foreign check?
There are three identifying features of a foreign check: written in a foreign currency, drawee bank is located outside of the U.S, and no 9-digit ABA number in the MICR line. If any of those features apply, the check should be deposited as a foreign check following the procedures listed in Depositing Funds.
Can I use Remote Deposit Capture (RDC) to deposit checks myself?
Yes, any department that receives checks may use Remote Deposit Capture. There is an initial cost for the scanner that can range from $400-$700.
Credit Card Processing
Why are transactions for my merchant account missing in the general ledger?
The most common reason is the transaction got posted to a different ledger account. Please send the transaction amount and date to dofcashmgmt@pobox.upenn.edu and a team member can search for the transaction.
Does the University accept online credit card payments?
Yes, the University has a relationship with CyberSource in order to accept credit cards online. You can find more details on the Credit Cards & PCI Compliance page.