CRM 305 - Exchanging Checks for Cash

Checks Received in a Check Cashing Operation:

Exchanged for Cash Daily - Daily all checks received in a check-cashing operation are exchanged for cash at the Campus Cashiers Office or, for those units authorized, at a depository bank.

Requirements for Exchange :

At Campus Cashiers Office -

• An adding machine tape totaling the amount must be attached to all checks presented for exchange.
• A written record is made in duplicate of each transaction and must include: 
  Date of exchange transaction.
  • Amount of cash given in exchange.
  • Signature of employee receiving the cash.
  • Certification of Cashier making the exchange.

Disposition of Copies - A copy is retained by the Campus Cashiers Office and a copy is given to the employee receiving the cash.

At Depository Bank - A properly completed and validated deposit slip satisfies the transaction record requirement.

created: 02-28-97