NOTICE TO ALL UAF DEPARTMENTS
UAF will not accept checks for deposit that are not drawn on US or Canadian banks.
- All checks must have the 'magnetic code' across the bottom of the check and the originating bank must be a US or Canadian bank.
- Payments from foreign entities need to be either drawn on US banks (the US bank must be the originating bank, not a foreign entity issuing a check that is "DRAWN ON" a US bank), or make their payment with an international money order or pay via credit card.
The last check accepted was from the Bank of Greenland and drawn on a Bank of America International account. Bank of America charged $120.00 to collect the funds. The original check amount was $742.80. The $120.00 had to be charged back to the department that deposited the check and it was up to them to try to collect those funds.
All Canadian checks must be placed on a separate deposit slip that is listed as 'CANADIAN' and be accompanied by a copy of the check with the deposit accounting numbers listed.
Canadian exchanges are processed by our bank on a daily basis and I try to process the exchange to the student/department as soon as I get the information from the bank.
If you have any questions please contact Penny Bales at 474-6412.