| Description |
Foreign Checks are negotiable documents not drawn on a U.S. bank or not paid in U.S. currency. Checks meeting these criteria cannot be deposited directly to the University’s bank account. They must be submitted to the banks foreign collection department for processing.
After processing, the bank will notify the University that the funds have been converted to U.S. currency. Only after notification from the bank may the funds be deposited to a student’s or department’s University account |
| Note: |
Items for $200 U.S. or less are not to be accepted. |
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STEP |
DESCRIPTION |
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1. |
Make two (2) copies of the foreign check |
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2. |
Prepare a Treasurer’s Receipt |
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A. |
Write “Foreign Check Collection” in the description area |
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B. |
If the Check is for |
Then |
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a student: |
Write the student’s name and student TUid Number in the description area |
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a department |
Write the department’s name and account number in the description area |
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C. |
Enter the Foreign Collection Account Number (2193-106720000) in the Account Number Area |
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D. |
Enter the dollar amount of the check in the Amount column |
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3. |
Give the Treasurer’s Receipt and one copy of the check to the cashier for processing. |
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4. |
The cashier will retain the yellow and pink copies of the Treasurer’s Receipt. |
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5. |
Your department will be notified when the check funds have been converted and cleared by our bank institution. |
