A. ENDORSEMENT PROCEDURES
In general, checks must be endorsed the same as what is written on the Payee Line of the check (i.e. checks made payable to Keene State College, Plymouth State University, Granite State College, or University of New Hampshire must be endorsed as such). A check made out to any component institution may be deposited with a USNH endorsement stamp. Similarly, a check made out to USNH may be deposited by a component institution.
B. CHECK REQUIREMENTS
1. All checks must be endorsed and logged as soon as possible after receipt. Deposit stamp example (including checks deposited via Desktop Scanner):
FOR DEPOSIT ONLY
ABC XYZ CO
2. Checks made payable to a 3rd party may only be signed over to USNH if they were issued by USNH (i.e. student refund checks).
3. Checks made payable to a 3rd party and USNH must be endorsed by the 3rd party prior to USNH endorsing and must be deposited in a USNH bank account.
4. Checks missing the signature of the issuer can not be deposited.
5. Changes to the front of the check (i.e. amount, payee name, date, etc. may only be made by the issuer of the check using a single line to cross out any incorrect information and must be initialed by the issuer).
6. In the event of a discrepancy in amounts between the convenience box (###’s) and legal (written) amount the check must be deposited for the legal amount.
C. REMOTE SCANNING PROCEDURES
Approved Scanners: EC Series Scanners (RDM Corp); Epson CaptureOne (Epson Corp); VisionX Video and Documentation (Panini Corp); CheXpress CX30 or TellerScan TS240 (Digital Check Corp).
* USNH does not allow checks to be scanned via a Mobile Option (i.e. Smartphone App).
In addition to limitations on depositing checks as indicated in the Check Requirements section above items ineligible for remote deposit also include:
1. Checks Drawn on a foreign bank (includes Canadian checks).
2. Checks drawn on a domestic bank in a foreign currency.
3. Checks made payable to both USNH and a 3rd party.
4. Checks more than 6 months old.
5. Travelers checks, money orders, and postal money orders.
6. Duplication of deposits is prohibited (either in its paper-based form or in a digital form within another Deposit File) unless Citizens has notified USNH that an item has been rejected or returned.
* Items ineligible for desktop scanning must be deposited at a local bank branch.
D. CHECK STORAGE AND DESTRUCTION PROCEDURES
1. All checks must be stored in an access controlled secure fireproof location.
2. Remotely deposited checks should be stored according to policy guidelines.
3. When destroying Items, an appropriate method of destruction must be used that will result in the paper-based item being unable to be processed and all sensitive personal and financial information undecipherable. Acceptable destruction methods include: cross-cut shred, pulp, or incinerate.
Related Procedures, Forms and Resources
Accounts Receivable: email@example.com
USNH Treasury: firstname.lastname@example.org
General Accounting: email@example.com
Policy Owner: USNH Director of Treasury
The official version of this information will only be maintained in an on-line web format. Any and all printed copies of this material are dated as of the print date. Please make certain to review the material on-line prior to placing reliance on a dated printed version.