Desktop Deposit Quick Info

Desktop Deposit – Quick Info

. Individual Check Limit and Total Deposit (batch) Limit o $20 Million (if you need to exceed this, contact the Office of Investments & Banking (OIB) at 612-624-5558)

. Depositing checks to Wells Fargo Bank, Acct X0033—Use WFFBKand Acct 0033 on your Departmental Deposit in PeopleSoft for checks deposited through Desktop Deposit (do not use Vault, V_IB unless manually depositing checks in the depository for OIB to process)

. Items that cannot go through Desktop Deposit (these items must be manually deposited- create a separate deposit for these in PS (select Vault, V_IB) and send to OIB for processing via the Depository) –If in doubt, you can attempt to scan them and if they are accepted, they will go through o Foreign Dollar checks (checks in foreign amounts)-will not scan o Checks drawn on Foreign Banks (not U.S. affiliates)-will not scan o You can try Foreign Checks drawn on a U.S. affiliate bank and if they are accepted in Desktop Deposit they are ok, otherwise they will have to be manually deposited o Checks missing any of the MICR numbers on the bottom o Some Money Orders may be too light in print to scan(try yellow highlighter on light info and see if it scans readable) o Some inks may not scan (light colors, flourescents) can try yellow highlighter

. Duplicate Checks -counter checks (new checks with no check#) may show as duplicate checks, you must verify they’re not duplicates (i.e. diff. dates) before accepting in Desktop

. Checks that need to be manually deposited must be pulled from your Desktop Deposit batch (adjust your batch totals as needed) and then deposited on a separate Departmental Deposit in PS (use Vault, V_IB). Foreign checks must be deposited on a separate Departmental Deposit. These Departmental Deposits are sent to OIB via a Depository on campus or your armored courier run [if you have one]– Depositories located at: 2-596 PWB, 107 Coffey Hall, 55 Heller Hall or via a scheduled armored courier run.

. You can only scan 1000 checks per batch (if you have a deposit with more than 1000 checks, you will have to split it into smaller batches with their own separate totals)

. Checks pulled for manual deposit MUST be listed on your Deposit Log so that there is a record of them. Note any unusual items on your deposit log (i.e. holidays, system issues, etc)

. At the end of the month, Email a copy of your Deposit Log to Treasury Accounting (or when requested) at: [email protected]

 Contact the Office of Investments & Banking if you have problems with Desktop Deposit- see the “Troubleshooting Contact List for Desktop Deposit” handout