Depositing Funds

Visit Finance & Treasury

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 

Deliver Cash or Checks to Franklin Building

The Cash Management team is on campus several days per week in order to process deposits placed in the Franklin Building’s Cash Management drop box. When you enter the lobby of the Franklin Building, the Cash Management drop box can be found on the hallway to your right, just past the security desk. The Smart Safe is available to accept cash deposits, and is located in the small room to the right of the lobby. The Smart Safe room is open Monday-Friday between 8:30 and 5:30, but requires Penn card access.

PLEASE NOTE: If you are on campus and plan to drop off cash or checks, please notify Cash Management so we can provide you with access to the Franklin Building and/or the Smart Safe room. The building is currently restricted to essential Franklin Building personnel, however access can be provided to depositors.

For more information