The University of ArizonaThe University of Arizona
Bursar's OfficeBursar's Office
 

International Collection Items

Foreign Check and Currency Information

Checks or currency intended for deposit which are not issued in US Dollars or have been issued by a foreign bank are referred to as International Collection Items.

International Collection Items require special handling by the Bursar’s Office and Wells Fargo (the University’s partnering bank):

  • Immediate credit to the department’s account for International Collection Items may not be granted.
  • Some International Collection Items may have a Collection Fee assessed. When the funds are returned back from the bank, the department will be notified if there is a Collection Fee.
    • Departments can avoid Collection Fees by requiring that checks be drawn against a US bank.
  • Items under the equivalent of US $250.00 will not be accepted since the bank will not accept if for processing. 
  • Items issued by a foreign bank in countries or in currencies listed in Attachment I will be accepted by the bank. If an item is issued by a foreign bank in countries or in currencies not listed in Attachment I, please call the Campus Banking Coordinator to determine if the funds can be accepted.

Depositing International Collection Items

Checks

  • If the foreign check is not in US Dollars, departments should first calculate the current equivalent US dollar amount using a bank determined rate (known as the Conversion Rate) prior to depositing the funds with a Cash Receipt. Please call the Campus Banking Coordinator to obtain the conversion rate.
  • Record the converted amount on a Cash Receipt. All international collection items must be processed on individual UAccess Financials Cash Receipts and deposit slips.

Currency

  • Submit a memo (NOT a Cash Receipt) to the Bursar’s Office listing the following information:
    • Type of currency
    • Amount
    • Account/object code funds are to be deposited to once converted
    • Department contact information
  • Once funds have been converted by the bank, a notification will be sent to the department contact providing the deposit’s Cash Receipt number.

Please call the Campus Banking Coordinator for information.

Resources:

  • Refer to Policy 8.10
  • Wells Fargo International Customer Service:  1-877-201-9639