Depositing & Booking
How to Deposit
A Cash Credit Voucher is used to record cash and check deposits into a University bank account. Deposits of cash and checks must be brought to Cashier Services located at 881 Commonwealth Avenue, lower level, or to the Bank of America branches located at either the George Sherman Union (775 Commonwealth Avenue) or Kenmore Square (540 Commonwealth Avenue).
To complete a Cash Credit Voucher, please visit the Comptroller’s Form Generator.
Where to Deposit (Cash, Check and Credit Card)
Cash, check and credit card deposits should be brought to either Cashier Services located at 881 Commonwealth Avenue, lower level, or to the Bank of America branches located at either the George Sherman Union (775 Commonwealth Avenue) or Kenmore Square (540 Commonwealth Avenue). Cash must not be sent through interdepartmental or regular mail. Before a cash deposit is accepted, either a University Cashier representative or a Bank of America teller will count the cash in your presence.* Cashier Services will also sign and return your copies of the Cash Credit Voucher. At Bank of America, a validated copy of the deposit ticket and a copy of the Cash Credit Voucher will be your receipt.
* Please note unit/dept on all rolled coins being deposited.
When to Deposit
Cash, check and credit card funds must be deposited daily to either Cashier Services located at 881 Commonwealth Avenue, lower level, or Bank of America locations at the George Sherman Union (771 Commonwealth Avenue) or Kenmore Square (540 Commonwealth Avenue). Cashier Services should be consulted in advance if departmental business needs warrant other deposit arrangements. Checks or Cash that needs to be held in the department overnight must be kept in a secured area, such as a fireproof safe. All deposits must be in US currency.
Cash must be kept in a locked cash box, bank bags and/or registers. When not in use, cash must be kept in a locked desk, file cabinet and/or office safes. Cashier Services strongly recommends the use of fireproof safes for departments with significant cash on hand. Cash box and register access must be restricted to only employees having a business requirement. Always limit the number of people who know the combination to the safe and the number of keys to locked boxes or bank bags. Departments depositing more than $1,000 in cash should be escorted by the Boston University Police Department. Good judgment and common safety practices must be utilized when carrying cash across campus. Safe transportation of cash includes the following:
- Use a police escort for all cash deposits in excess of $1,000. For all other deposits, walk with another person.
- Do not let others know that you are carrying cash.
- Always be alert to your surroundings.
- Only make the deposits during daylight hours and use a route that has pedestrian traffic.
To request an escort, please contact the Boston University Police Department at 617-353-2110.
To learn more about safety on campus, please visit the Boston University Police website at www.bu.edu/police.
Armored Car Service
Departments that collect large sums of cash on a regular basis that require immediate bank deposit may request to use the University contract armored car service. Please contact Cashier Services at 617-353-3896 for more information or to arrange a quote for this service.
Cash that is lost or stolen must be immediately reported to the Boston University Police Department at 617-353-2110. A copy of the police report, along with a memo detailing the shortage, should be sent to both the Manager of Cashier Services and to the Office of Internal Audit within seven business days of the shortage.
- All deposits to Cashier Services must be in US currency.
- Requests for foreign currency funds should be made to Boston University Debt and Treasury Management at 617-353-2272.
Bank and Investment Accounts
Boston University Departments are not allowed to open external banking or investment accounts (checking, savings, credit card, merchant accounts, investments, etc.). External bank accounts are the responsibility of Boston University Debt and Treasury Management at 617-353-2272.
Requests for both incoming and outgoing wire transfers should be made through the Boston University Debt and Treasury Management at 617-353-2272.