Returned Checks

Deposited checks that do not clear the bank the first time will be automatically processed by the bank a second time. If the check still does not clear, the bank will return the check to Student Accounts and Receivables. Student Accounts and Receivables will determine the account to which the check was originally credited and will either start collection activity on the bad check or return the check to the appropriate department for their collection. A "no check" indicator will be placed on the student's account indefinitely.

The Board of Regents approved the following policy effective July 1, 1992: "A charge of $30.00 will be made to a debtor's account for each check, draft, money order or other payment instrument which fails to clear the financial institution upon which the instrument is drawn. A $30.00 charge will be assessed by the University department that is responsible for collection of the dishonored items. The University reserves the right to require payment by credit card, money order or cashier's check for settlement of a debt after the initial payment has been dishonored."