Cash Management

Cash Management is responsible for the efficient operation of the University’s banking relationships. Therefore, Cash Management has sole authority to open, maintain and close all bank accounts in the name of the Trustees of the University of Pennsylvania (please review Financial Policy: 1501 Banking Relationships 

To review this policy and other cash financial polices, please consult the Financial Policy Manual 


If your area needs assistance in determining if a bank account is required or some other funds management arrangement is needed, please contact Cash Management at (215) 898-7256


Important Information: Fraudulent Activity Targeting The University of Pennsylvania bank accounts.

Recently, there has been a flurry of fraudulent checks drawn on some of the University of Pennsylvania's bank accounts with Wells Fargo. These checks have been sent to individuals and companies unassociated with Penn. Fortunately, many of these recipients have contacted Penn to alert us to this fraud.

The checks may be accompanied by correspondence directing the individuals to deposit the checks into their accounts and often directs the recipients to refund a percentage elsewhere and keep a percentage for themselves.

If for any reason you have received an unanticipated check from The University of Pennsylvania it should not be deposited, and you should contact Penn’s Office of the Treasurer at (215) 898-7256. You may also fax a copy of a suspect check to (215) 573-6392 or send an email to Cash Management.

Please see the Department of Treasury’s website for their fraudulent check advisory - Office of the Comptroller of the Currency

The Federal Bureau of Investigation’s website also contains a counterfeit check warning