Cash Management
Foreign Checks
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), make their payment with an international money order or pay via credit card.
The last check accepted from a foreign bank 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.
Canadian Checks
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. We work hard to process the exchange to the student/department as soon as we get the information from the bank.
Unidentified ACH Deposits & Checks
The university often receives payments in the form of ACH deposits or checks that are unclear as to which department they belong. These monies are held in a general ledger account until they are claimed.
It is important to track incoming revenue to ensure the transactions process correctly and posts to the appropriate area. Otherwise, the revenue may end up in this holding place without anyone knowing of its existence.
You can review the current list of unlocated ACH deposits in the FGIGLAC Banner screen:
- Enter 103010 for the fund and 0773 for the account code
- You may either scroll through the list or search for a specific amount by clearing the screen and entering the value in the "Amount" box
- Please note, amounts may vary if fees were applied
Alternatively, we maintain a spreadsheet with the information and update the list weekly.
OFA uses a restricted Google drive to store some of our resources. If you are accessing the drive or a new file for the first time, you may need to request access. Our office receives the request and grants access to authorized personnel.
Click a restricted link and follow Google's instructions for requesting access. Contact our office if you have sent a request and still do not have access after one business day.
Our staff are happy to answer any questions about foreign and unidentified checks.