Bank Change Information
The University has chosen to shift our partnership from Bank of America to Wells Fargo to handle our central banking services. We believe this change will be a benefit to all University community members and are looking forward to this new relationship. Our anticipated go-live date with Wells Fargo is May 16, 2016.
Who does this change affect and how will it affect your role within the community?
- Departments that receive electronic payments, either wire or ACH, you will be contacted individually with specific instructions to give your customers for making these payments in the future. Please be on the look-out for further communication and instructions.
- Employees and students receiving direct deposit or paper checks for your wages will not need to take any action. Your pay will be deposited into your account or you will receive a paper check as you always have. The University will continue processing payroll in the same manner and there will be no action necessary on your part.
- Students who may receive a refund on your student account, no action is necessary. Student refunds will continue to be processed in the same manner.
- Departments that receive payments by check and typically deposit them with the Cashier's office, either in person or using secure bank bags, no action is necessary on your part. You will continue to make deposits as you always have.
- Departments requesting payments to vendors, no action is necessary. Please continue to procure goods and services as you always have.
- Departments and employees that purchase goods or services using a University credit card, please continue to do so. No action is necessary.
- Departments processing credit card payments will also not be affected. No action is necessary for those of you that may collect credit card payments from customers.