Bank Closure Impacts and Resources
This article provides a summary of guidance for suppliers and employees who are impacted by recent bank closures, for example Silicon Valley Bank.
This project involves identifying and implementing system and/or process solutions for all deposit streams currently relying on the CASHNet system.
Deposit methods changed. Interim lockbox for checks will be retired.
Updated self approval limit for purchase requisition
Clarification on the transfer of funds as well as management of bank accounts
Added deposit email details, internal control measures, and refreshed deposit guidelines
Clarified the purpose and variety of receipt types with refreshed guidance on examples, considerations and how to process each
Consolidated and updated incoming wire instructions