About Foreign Checks
Most foreign checks must be presented to the bank for collection. It may take several days to several weeks until the funds are received. Whenever possible, encourage payment in US dollars drawn on a US bank. However, if you find that you have a foreign check follow the appropriate guidelines:
Foreign Amount Drawn on a Foreign Bank
- Call Cash Handling and Banking Services at 643-9803 for a conversion rate and amount.
- Indicate the conversion rate, amount, and date on the back of the check.
- Prepare a CDS Miscellaneous Receipt for the conversion amount. Each foreign check requires a separate CDS Miscellaneous Receipt.
- Deliver the CDS Miscellaneous Receipt and foreign check to 130 University Hall on the same day before 3:00 pm.
- The Miscellaneous Receipt will be processed when Cash Handling and Banking Services is notified by the bank that the funds have been collected.
US Dollar Amount Drawn on a Foreign Bank
- Prepare a separate CDS Miscellaneous Receipt for the foreign check.
- Deliver the CDS Miscellaneous Receipt and foreign check to 130 University Hall.
- In most cases, the Miscellaneous Receipt will be processed the same day. However, in some cases, the check will need to be sent to the bank for special handling. If this happens, the Miscellaneous Receipt will be processed when Cash Handling and Banking Services is notified by the bank that the funds have been collected.