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?
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- How many piece of identification are required?
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- When must the checks be signed?
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- In order to cash an out-of-state check what must you be?
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- How long do students have to wait for international checks?
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- What mustn't be sent through the mail?
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Check Your Answers on the Following Page
More Business Reading Comprehension
Company Financial Profile
Financial Services
Check Cashing and Deposit
