Many departments across the different system campuses accept funds for deposit. These monies must be processed according to the finance policies.  

Please be aware of specific rules that may pertain to your department’s processing of receipts.  

Written Authorization

Only the Office of the Treasurer has the authority to establish bank accounts in the name of the University of Missouri. The recommendation of Campus Business Services and authorization of the Office of the Treasurer is required for an individual or unit to deal directly with a bank for the purposes of:  

  • Making credit deposits
  • Making safekeeping deposits
  • Exchanging checks for cash

Deposit Locations

There are depository banks for each campus. All balances in the account are transferred daily to the concentration account.  

  • Mizzou and University of Missouri Health Care – Central Bank of Boone County
  • UMKC – Commerce Bank
  • Missouri S&T and UMSL – US Bancorp  

If you need to order/reorder bank deposit slips, and are on campus at Mizzou, please complete the form . If you are at UM Health Care, please complete the form . All other campuses, please contact UM VP FA Cash Management.  

Deposit Pick Up

Brinks offers 3 day per week pick up/drop off service for approximately $282.16 per month. Brinks also offers a 5 day pick up/drop off service for $414.79 a month. If you are interested in this service, please contact UM VP FA Cash Management.

Large Deposits

The Campus Division of Finance is responsible for determining the circumstances under which the use of guards, University Police escorts or armored car service is required. These services are typically used when a deposit contains amounts of coins or currency of $500 or greater. A system of locked bags or containers, receipts and communications should be used.  

Any deposit greater than $500,000 should be reported immediately via email to the Treasurer’s Office no later than 2 p.m. in order to ensure sufficient collateral at the depository bank.  

Sending Wire Payments

In order to provide clear policies and procedures, and prevent fraud, the Treasurer's Office has asked that the following steps be followed whenever a wire transfer or foreign draft is requested.

  • All vouchers for wires, foreign drafts or cashier's checks will be routed to Accounts Payable Shared Services.
  • A Wire Transfer Authorization form must be fully completed for each wire. See the , which includes a link to the appropriate wire form.
  • If a PO voucher, the voucher must be routed in ImageNow workflow to the "Cash Mgmt Internal Review" queue.
  • If a Non-PO voucher, vouchers must be routed through PeopleSoft workflow to the Office of the Treasurer worklist.  
  • An addressed envelope, with mail bar code, should be mailed to 118 University Hall for any foreign draft request. Any copies of invoices, registration forms, etc., that should be sent to the payee should be in the envelope with a copy attached to the voucher. If no envelope is attached then the foreign draft check will be mailed to Accounts Payable Shared Services for distribution.
  • If there is any question concerning the payment, APSS, the authorized signer, and the voucher creator will be contacted for verification.

Wire Fees

Fees may apply for wire transfers and will be assessed to the departments. The fee structure is as follows:  

  • Domestic USD transfer, no wire fee  
  • International USD transfer, $20 USD fee
  • Foreign currency, $25 USD fee
  • Bank draft for foreign currency, $8 USD fee

The amount wired may be reduced by the intermediary bank and/or the vendor's bank. If you want to ensure that the amount the vendor receives is sufficient, you can add $25.00-$30.00 USD to your wire payment amount to help cover any fees that the intermediary and/or the vendor's bank may take out.

Cashier’s Checks

In order to provide clear policies and procedures, and prevent fraud, the Treasurer's Office has asked that the following steps be followed whenever a Cashier's check is requested.

  • All vouchers for Cashier's Check will be routed to Accounts Payable Shared Services for fiscal approval.
  • The voucher needs to state who will pick up the Cashier's Check from the bank. We need to notify the bank who is picking it up and that person will need to show a photo ID.
  • Vouchers must have the ImageNow approval stamp from Accounts Payable Shared Services authorized approver list. The voucher must be routed in ImageNow workflow to the "Cash Mgmt Internal Review" queue.
  • If there is any question as to the authenticity of the signature, or any question concerning the supporting documents attached, the authorized signer will be contacted for verification.
  • The Treasurer's Office must be notified on a timely basis of changes in personnel and responsibilities of the authorized signers.

Lockbox Processing

Since cash concentration is an important part of the banking services required by the University, it is important to collect funds in an effective and efficient manner. Lockbox services are an integral part of the collection service.  

With a lockbox, a bank or third party receives mail at a specified lockbox address (P.O. Box), preferably one with a unique ZIP code, processes the remittances and deposits them in the payee's account. Ë¿¹ÏÊÓƵ uses a retail lockbox for collection of student fees, student loans, residential life payments, University Physicians payments and accounts receivable payments.  

Wholesale lockbox is used for certain types of payments to University Hospital and accounts receivable payments.

Payment Processing

Once a voucher is in our queue, we route the voucher to central payroll for their approval. This normally takes, at most, one day. If there are any questions, we route the voucher back to the original department for clarification. Once the voucher is back in our queue and approved by central payroll, we can process the payment. Most vouchers take 1 to 2 days to get approval and to process payment.