Employee If all of the cash is lost or stolen, carries cash it will be time consuming to abroad the advance process Dept/school is responsible for replenishing lost cash drawn as a field advance Employee Financial If advance is Check policies Instant access to 24x7 availability at foreign Must have a foreign bank 3. Advance is creates Services wired, $25 of foreign bank cash at foreign ATM account prior to the advance deposited in foreign bank wires money fee ATMs being deposited foreign bank account to foreign account account Additional Foreign bank account doesn’t (personal or Dept initiates transaction have customer protections of US request for OR charges will banking system UW), cash is advance be charged withdrawn at UW at foreign Method is dependent on access foreign ATM Employee employee ATM to foreign ATM system withdraws deposits UW cash at foreign check in Foreign ATM system may have ATM foreign bank limits on the total daily account withdrawal and number of transactions that are too restrictive for the custodian’s purposes Dept/school is responsible for replenishing lost cash drawn as a field advance
Employee carries cash abroad If all of the cash is lost or stolen, it will be time consuming to the advance process Dept/school is responsible for replenishing lost cash drawn as a field advance 3. Advance is deposited in foreign bank account (personal or UW), cash is withdrawn at foreign ATM Employee creates foreign bank account Dept initiates request for advance Employee withdraws cash at foreign ATM Financial Services wires money to foreign account OR UW employee deposits UW check in foreign bank account If advance is wired, $25 fee Additional transaction charges will be charged at foreign ATM Check policies of foreign bank Instant access to cash at foreign ATMs 24x7 availability at foreign ATM Must have a foreign bank account prior to the advance being deposited Foreign bank account doesn’t have customer protections of US banking system Method is dependent on access to foreign ATM system Foreign ATM system may have limits on the total daily withdrawal and number of transactions that are too restrictive for the custodian’s purposes Dept/school is responsible for replenishing lost cash drawn as a field advance
Access_cash_abroad_chart.docx