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blamk chequeThe finance department will change several procedures for issuing cheques in U.S. funds.

Finance implements change to issuance of cheques in U.S. currency

Due to changes in regulations by the U.S. Federal Reserve, the University will no longer be able to issue U.S. dollar payments to suppliers or employees with a Canadian mailing address. U.S. dollar payments can be issued only to suppliers with a valid U.S. mailing address (Post office boxes will not be accepted.)

Finance is working on implementing U.S. dollar Direct Deposit payments (EFTs) for all U.S. suppliers. Procurement will contact all U.S. suppliers to obtain their direct deposit banking information. Suppliers with a Canadian mailing address who currently receive U.S. dollar payments will also be contacted to arrange for a solution for future payments.

Finance encourages all suppliers to register for direct deposit. For more information, visit the Forms, Policies and Reference Guides section of the Finance website.

More detail on how these changes will impact suppliers and employees can be found on the Finance website.