Mellon Bank has informed the Treasurer's Office that it will no longer accept foreign checks below $100 for deposit. Previously, we were able to deposit foreign checks of $50 or more.
The change is being made because foreign banks have been changing their payment structures and charging larger fees on collection items. Bank fees have increasingly been exceeding the face value of the smaller checks. The fees are imposed regardless of whether payment is made or the checks are returned for various reasons. Most other banks already had imposed a $100 minimum for foreign checks. The Cashier's Office will, therefore, no longer be able to accept foreign checks below $100 for deposit.
We would encourage schools and departments to advise individuals abroad to make their payment via a U.S. check, an international postal money order, or through VISA/Master Card. Those who have questions on the new policy may call Lynn DePorter, cashier, at 8987258. Thank you for your cooperation. Office of the Treasurer