Bill Paying, Returned Check and Electronic Transfer Items Service Charges

REGULATIONS OF THE

UNIVERSITY OF FLORIDA

3.0022 Bill Paying, Returned Check and Electronic Transfer Items Service Charges.

(1) The University Cashier at S-113 Criser Hall does not accept cash payments. The University reserves the right to require all delinquent accounts to be paid only by cashier’s check or money order.

(2) The University reserves the right to refuse to cash two-party checks, altered checks, and checks that will not photocopy.

(3) The University reserves the right to refuse international checks. If international checks are accepted, the University will assess any additional charges necessary to cover any foreign bank processing charges or differences in currency exchange rates.

(4) Returned Checks.

(a) When a student check is returned uncollected it is considered to be a delinquent account with the University and a hold will be placed on the student’s account which prevents the student from receiving grades, transcripts and/or diploma and the student’s registration will be denied for future terms until the account has been satisfied.

(b) A minimum service charge of $25.00 will be charged when a check is returned. Thirty ($30.00) dollars will be charged if the check is greater than $50.00 but less than $300.00 and $40.00 will be charged for returned checks of $300.00 or more.

(c) University departments may choose to allow returned checks to be redeemed by any of the following methods: cash, cashier’s check, or money order. However, returned checks at the University Bursar may only be redeemed in cashier’s check or money order.

(5) Returned ACH (electronic transfer) items.

(a) When an ACH item is returned from the bank it shall be processed in the same manner as a returned check except as provided herein.

(b) The University may process the item differently if it can determine the item was returned due to an unintentional processing error by the payer, such as entering an incorrect bank account number. The following fees will be charged, and procedures followed for these items.

1. No charge if the ACH payment was less than $10.00.

2. A $10.00 charge if the ACH payment was $10.00 or more.

3. Does not require payment in cashier’s check or money order.

4. May be waived due to extraordinary circumstances.

Authority: BOG Regulation 1.001.

History: 2-11-82, Formerly 6C1-3.022, Amended 5-18-92, 5-1-96, 7-15-97, 10-7-99, 6-27-02, Formerly 6C1-3.0022, Amended 12-11-09, 7-25-13 (technical changes only).