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Check Cashing / Deposit Policies

Smither Brothers Language School

By

MEMO

RE: Check Cashing / Deposit Policies

TO: All Staff

Please follow these instructions when cashing or depositing checks from our students.

  • Check cashing by customers is limited to $500.
  • Two pieces of identification are required, one of which must be a valid driver's license.
  • All checks must be signed on the reverse side at the moment of presentation.
  • Out-of-state checks are only accepted from residents.
  • International checks may not be cashed. They must first be deposited and can be drawn on after a minimum of 14 days.
  • Direct bank deposits and formal reporting procedures are available.
  • Payments received must always be deposited intact. Never make disbursements from payments received.
  • Never send coin or currency through the mail. Bring it to Accounting Services and obtain a receipt from the cashier. Come before 2 o'clock, so that we can include it with that day's bank deposit.
  • Checks and money orders should be restrictively endorsed with these words as soon as you receive them:

    Smither Brothers Language School
    15 Whitehead Street
    Olympia, WA 98501

Check Your Understanding

  • What is the limit on cashed checks?

    _____

  • How many piece of identification are required?

    _____

  • When must the checks be signed?

    _____

  • In order to cash an out-of-state check what must you be?

    _____

  • How long do students have to wait for international checks?

    _____

  • What mustn't be sent through the mail?

    _____

Check Your Answers on the Following Page

More Business Reading Comprehension

Company Financial Profile
Financial Services
Check Cashing and Deposit

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