Check Cashing (C-6)
Original Implementation: September 1, 1988
Last Revision: July 17, 2012
The business office in the Austin Building cashes checks for faculty, staff and currently enrolled students with a Stephen F. Austin State University I.D. The check cashing limit is fifty dollars ($50) per day. If an extenuating circumstance exists in which a student or employee needs to cash a check in excess of $50, authorization must come from the controller, the bursar in the business office or the bursar's designee. Checks returned to the university for nonsufficient funds, payment stopped or account closed will be collected by the university or an outside collection entity. Any fees charged to the university by an outside collection entity or the financial institution will be assessed to the individual. The university reserves the right to refuse personal checks from individuals who have a history of bad checks.
The university business office is not authorized to cash two party checks, post dated checks or checks which are disbursed by the university (i.e., payroll checks, travel checks, etc.) except when the university-issued check is used as payment on the payee's account. Web check payments in excess of the amount owed, thus resulting in a refund, are not permissible.
Employees with a history of returned checks may be subject to disciplinary action.
Cross Reference: Returned Checks (C-35)
Responsible for Implementation: Vice President for Finance and Administration
Contact for Revision: Controller
Forms: None
Board Committee Assignment: Finance and Audit