Banking Information

Topics for Reference

Accepting Foreign Check for Deposit

Clemson University accepts deposits of foreign checks from many countries. Foreign checks are credited to your account in a matter of days. Make sure the foreign check has a micro encoding on the bottom of the check. With the micro encoding missing from the item and with no U.S.-affiliated bank identified, that means that it may be a foreign draft and not a check. You can accept a foreign draft, but you must contact Cash and Treasury Services to negotiate the draft. The draft will be taken to our banking institution to be sent for collection. Collection will take four to six weeks. It is important to note that due to a $35 or higher processing fee, the bank will not accept a foreign item for collection with a face value of less than $100. If you have any questions, please contact Gail Winchester with Cash and Treasury Services at 864-656-5601.

Accepting Funds at the University

Departments must be authorized to receive payments on behalf of Clemson University. Approved departments are responsible for ensuring adequate internal controls are in place and securing the collection and proper receipt of monies.

If you would like to accept payments on behalf of Clemson University, please submit a Request to Receive/Receipt Funds Form to Cash and Treasury Services.

Bank Accounts

Bank accounts used to conduct University business are approved by the chief financial officer. The Board of Trustees authorized the chief financial officer to approve the process of opening an account and depositing University funds in a commercial bank and any other financial organization or to establish a petty cash fund. No other organizational unit, department or administrative office has the authority to open an account and deposit University funds in a commercial bank or any other financial organization or to establish a petty cash fund except when specifically authorized, in writing, by the chief financial officer. For additional information, please read the bank accounts procedure.

Bank Holiday Schedule

*When a federal holiday falls on a Saturday, it is usually observed on the preceding Friday. When the holiday falls on a Sunday, it is usually observed on the following Monday.

Counterfeit Currency

Keep up to date on changes to U.S. currency. Know what to look for when accepting U.S. currency. For more information, visit The U.S. Currency Education Program website.

Deposit Slips

Deposit slips will be paid for by Cash and Treasury Services, provided they are ordered through our department and not ordered as a RUSH.

• If a RUSH is requested, it will be the responsibility of the department to cover all charges for the deposit slips.
• Please allow two to three weeks for deposit slips to arrive once they are ordered.
• Whenever a deposit is made, a deposit slip MUST be included, regardless of the amount or the type of deposit.

If you need to order deposit slips, please submit a deposit slip order form to Cash and Treasury Services.

If you have any questions, please contact Gail Winchester with Cash and Treasury Services at 864-656-5601.

Endorsement Stamps

Approved endorsement stamps, at a minimum, must include all the following:

• Department name.
• For deposit only.
• Clemson University.
• Deposit sweep account.
• Bank name.
• Bank account number.

Please contact Gail Winchester with Cash and Treasury Services at 864-656-5601 to get bank information before ordering your stamp.

Local Banks

• Bank of America - bankofamerica.com
• Chase Bank - chase.com
• First Citizens Bank - firstcitizens.com
• Founders Federal Credit Union - foundersfcu.com
• Oconee Federal Savings & Loan - oconeefederal.com
• C. State Credit Union - scscu.com
• SouthState Bank - southstatebank.com
• Truist Bank - truist.com
• Wells Fargo Bank - wellsfargo.com

Returned Items

Returned Check: All returned checks are processed by the bank twice before being deemed insufficient. All returned checks are initially returned by the bank to Cash and Treasury Services. Upon receipt of a returned check, Cash and Treasury Services will determine the depositing unit or account that accepted the check. The charge for a returned check is $30. The University will charge a returned check fee for each returned check. Returned checks must be paid by cash, money order or cashier’s check.

Returned E-Check: All returned e-checks are initially returned by the bank to Cash and Treasury Services. Upon receipt of a returned e-check, Cash and Treasury Services will determine the depositing unit or account that accepted the e-check. The charge for a returned e-check is $30. The University will charge a returned e-check fee for each returned e-check. Returned e-checks must be paid by cash, money order or cashier’s check.

Sending Money to Clemson University via Wire Transfer and/or EFT

*Please note that this account is designated for incoming money only. No attempts to debit the account will be honored.

Whether you are sending money to Clemson University via wire transfer and/or EFT, please contact the Accounts Receivable area within the Office of Accounting Services before sending funds to Clemson University.

General Information:
Accounts_receivable-l@clemson.edu or 864-656-4133

Any questions regarding the claiming of funds should be directed to Accounts Receivable.

Note: If a duplicate wire transfer and/or EFT payment is received by Accounts Receivable, it will be the department’s responsibility to return the funds to the originator of the wire transfer and/or EFT payment.