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Contents Edited by the
Administration & Finance Customer
Service Center
UHS
Switching to Bank of America
UH System has entered into a contract
with Bank of America (BOA) to perform
treasury services for cash disbursements,
cash deposits, and credit card processing.
Credit Card Processing Beginning
August 15, UH System departments that accept
credit card payments with POS
(point-of-sale) terminals will be contacted
by a BOA representative to receive
instructions for switching to BOA credit
card platform. This will be Phase I of the
implementation. Phase II merchants who
transmit through a virtual terminal or a
payment collection gateway will be
transitioned at a later date. Currently,
shopping carts are being set up for those
merchants who want them. The Bank of America
payment collection gateway will allow UH
vendors to become PCI (payment card
industry) compliant.
Procurement
Cards and Travel Cards, which are issued by
JP Morgan Chase through a state contract,
will not be affected by the switch to BOA.
Cash Disbursements Beginning
September 1, all voucher, payroll, and some
student refund payments will be issued
through BOA. (Students who currently receive
their refunds through HigherOne will
continue to receive their refunds through
HigherOne.)
Since payroll and student refund payments
are processed by Finance departments, most
departments will not be involved in these
changes. However, all departments that
create vouchers will need to ensure that
Bank of America is selected on their
local vouchers that are
scheduled to pay September 1 or after.
Beginning August 28, departments can
create FY09 vouchers (Accounting Date and
Scheduled Due Date = September 1 or after).
If the department wants to change an
existing voucher to FY09, they will also
need to change the bank on the voucher from
the old bank to the new bank as follows:
BU
Old Bank
New Bank
730
CHASH
BOAH
759
BOA
BOAC
765
CHASV
BOAV
783
FROST
BOAS
784
CHASD
BOAD
All vouchers created on August 28 and
after will default to the new Bank of
America bank account, so it will not be
necessary to change the bank on the voucher
unless you need to choose STATE to make a
state payment.
Cash Deposits
FY08 cash deposits (currency and checks)
must be made with the old bank deposit slips
and all check endorsements must indicate the
old bank account information. Also, FY08
deposits must be delivered as follows to be
counted in FY08:
BU
Deliver To
FY08
Deadline
730
Student Financial
Services (Welcome Center, Rm 114)
Aug 29, 12:00 Noon
759
Cashier’s Office
Aug 29, 12:00 Noon
765
Cashier’s Office
Aug 28, 5:00 PM
783
Student Financial
Services (Welcome Center, Rm 114)
Aug 29, 12:00 Noon
784
Cashier’s Office
Aug 29, 12:00 Noon
FY09 cash deposits (i.e., delivered
after the above deadlines) must be made with
the new BOA deposit slips and any check
endorsements must indicate the new BOA bank
account. Departments will be issued BOA cash
deposit slips and endorsement stamps by UHS
Treasury starting August 19, but should not
use them until they submit deposits for
FY09. Deposit slips and check endorsement
stamps should be picked up from Glinna
Hilton in room 10 in the basement of E.
Cullen.
When departments pick up their new
deposit slips and check endorsements from
Glinna on August 19 they should give Glinna
any old deposit slips that will not be used
before August 29, so that Treasury can shred
them. They should also deliver any remaining
old bank deposit slips to Glinna after
August 29, so that Treasury can shred them
as well.
Departments that have
deposit bags with the old bank name on them
(Chase or Frost) should order generic
deposit bags, which do not have a bank name,
from Student Financial Services. The generic
deposit bags must be used when making
deposits for FY09. If departments already
have generic deposit bags, they can continue
to use them. Non-generic bank bags with the
old bank name should be discarded after
August 29.
If the wrong deposit slip
or endorsement is used, the bank will not
accept the deposit and the department will
be required to correct the endorsement and
complete a new deposit slip, which will
delay the deposit.
