Depositing Funds

Visit Cash & Debt Management

Departments needing to deposit cash and checks have several methods available. Some methods may require access to the University’s proprietary deposit management system, BEN Deposits. The BEN Deposits system allows you to create an online deposit for cash and/or checks and identify the budget code(s) where funds should be deposited. Once a deposit is created, the deposit form is printed and taken to Treasury for processing with the associated cash and checks. For additional details on this deposit process, please see FB Deposit Processing.  

In order to gain access to BEN Deposits, employees must take the BEN Deposits training (available on Knowledge Link) and submit an eForm request. Users can access the eForm here. 

Deposit Methods 

There are several ways Departments can deposit cash and checks at the University. 

Remote Deposit Capture (RDC) 

Remote Deposit Capture allows departments to electronically deposit checks from a desktop computer. RDC requires a special scanner that is connected to the employee’s computer and access to the University’s online banking platform.  

Deposits via RDC are posted to a GL account two business days after the deposit. Departments can request RDC deposits be posted to multiple GL accounts. BEN Deposits is not required for this method. 

If your department is interested in exploring remote deposit capture, please reach out to Cash Management. Scanners must be purchased by the department and range from $400-$800. 

Wells Fargo Desktop Deposit: https://wellsoffice.wellsfargo.com/ceopub/prc/dsktp-dep/index.jsp 

Mobile Deposit via Smart Phone 

Checks can be deposited remotely using a mobile phone and the Wells Fargo CEO app. Simply download the Wells Fargo CEO app to your mobile phone, log in using your existing CEO user name and password and select Desktop Deposit from the menu. This service is limited to one check per deposit, however multiple deposits can be created each day. BEN Deposits is required for this method. 

Existing Desktop Deposit Users

Existing Desktop Deposit users can begin using the mobile deposit service at their convenience. Once you download the app, log in using your CEO login information. Select Desktop Deposit from the menu and it will walk you through making a deposit. Deposits will hit your GL account the same as they would if you were depositing with the desktop scanner.  

New Desktop Deposit Users

Depositors interested in using Mobile Desktop Deposit should contact Cash Management in order to receive access to the Desktop Deposit module. 

Wells Fargo Mobile Deposit: https://www.wellsfargo.com/mobile/apps/mobile-deposit/ 

Stagecoach Deposit Card 

Depositors can take cash and checks to a local Wells Fargo branch and deposit via the ATM using an ATM Stagecoach Deposit Card. Departments can provide the GL account string that they would like their funds deposited to. All funds will be deposited into this account; we are unable to allocate funds to different account strings using this method. BEN Deposits is not required for this method. 

If you are interested in this option, please call or email Cash Management and we will have an ATM card mailed out to you as soon as possible. The ATM card works as a DEPOSIT ONLY card. Funds cannot be withdrawn using this card. 

Learn more about the Wells Fargo Stagecoach Deposit Card: https://www.youtube.com/watch?v=fTmLRrHvjNE&feature=youtu.be 

Branch Deposits 

Depositors can take cash or checks to a local Wells Fargo branch for deposit. Funds should be deposited into the account number ending in -2644. Please contact Cash Management for the full account number. BEN Deposits is required for this method. 

When making the deposit, be sure to write your BEN deposit tracking number on the deposit slip AND the receipt the bank gives you. Then email a scanned copy or picture of the deposit receipt to support@penncdm.freshdesk.com. Please include the BEN Deposits tracking number in the body of the email. A pdf of the deposit ticket can be attached to the email but is not required. 

For more information