This streamlined process will give you more control over when your deposits are processed—and when you can access the funds.

Set up to deposit directly

Many DLCs are already set up to deposit the checks and cash they receive directly to one of the three Bank of America locations serving the MIT campus. If your DLC would like to deposit checks and cash directly, Contact Cashier Services to complete the setup process.

Prepare a deposit for checks drawn on U.S. banks

When your DLC is set up to make deposits, Cashier Services will send you a set of customized Bank of America deposit slips that are imprinted with your DLC’s location number. Prepare your deposit slip by listing the amounts of currency, coins, and U.S. checks (including each individual check number). Do not include any checks or currency from outside the U.S. 

Contact Cashier Services whenever you need additional deposit slips.

Prepare a deposit for checks drawn on foreign banks

You will need to create a separate deposit slip to deposit a check from a foreign bank.  If you have checks from more than one country, each will require a separate deposit slip. The bank teller will credit your account separately for each check drawn on a foreign bank.

Endorse checks

Prepare the check(s) you are depositing by stamping the back of each check with the endorsement stamp provided by Cashier Services.

Complete deposit

Deposit your checks/cash at one of three Bank of America locations serving the MIT community: Stratton Student Center lobby (W20), 226 Main Street in Kendall Square, or the CambridgeSide Galleria Mall.

Transfer funds in Atlas

After completing your deposit, use the "Journal Voucher" (JV) application in Atlas to transfer the deposited funds to the appropriate cost object(s). If you haven’t already done so, you may want to subscribe to “Email Notifications” in the “Settings and Authorizations” section on your Atlas home page. You’ll find “Settings and Authorizations” by clicking on your Atlas ID at the upper right of the page. This will enable you to receive an email notification whenever your JV is approved or rejected.

The Details

Set up to deposit directly

Many DLCs are already set up to deposit the checks and cash they receive directly to one of the three Bank of America locations serving the MIT campus. If your DLC would like to deposit checks and cash directly, Contact Cashier Services to complete the setup process.

Prepare a deposit for checks drawn on U.S. banks

When your DLC is set up to make deposits, Cashier Services will send you a set of customized Bank of America deposit slips that are imprinted with your DLC’s location number. Prepare your deposit slip by listing the amounts of currency, coins, and U.S. checks (including each individual check number). Do not include any checks or currency from outside the U.S. 

Contact Cashier Services whenever you need additional deposit slips.

Prepare a deposit for checks drawn on foreign banks

You will need to create a separate deposit slip to deposit a check from a foreign bank.  If you have checks from more than one country, each will require a separate deposit slip. The bank teller will credit your account separately for each check drawn on a foreign bank.

Endorse checks

Prepare the check(s) you are depositing by stamping the back of each check with the endorsement stamp provided by Cashier Services.

Complete deposit

Deposit your checks/cash at one of three Bank of America locations serving the MIT community: Stratton Student Center lobby (W20), 226 Main Street in Kendall Square, or the CambridgeSide Galleria Mall.

Transfer funds in Atlas

After completing your deposit, use the "Journal Voucher" (JV) application in Atlas to transfer the deposited funds to the appropriate cost object(s). If you haven’t already done so, you may want to subscribe to “Email Notifications” in the “Settings and Authorizations” section on your Atlas home page. You’ll find “Settings and Authorizations” by clicking on your Atlas ID at the upper right of the page. This will enable you to receive an email notification whenever your JV is approved or rejected.

Did You Know?

There are more than 100 DLCs set up to make deposits with Bank of America.
VPF Accounts Receivable (AR) generates monthly aging reports to identify invoices that are overdue for payment and initiates collection activities for bills that are more than 60 days late.
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