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Non-Sufficient Funds Checks & Other Forms of Returned Payments Policy

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Non-Sufficient Funds Checks & Other Forms of Returned Payments Policy

Purpose

To reduce the risk of receiving non-sufficient funds (NSF) checks or other returned payments, as well as reimburse the University for banking fees charged as a result of returned payment.

Scope

This policy applies to all students, faculty, and staff of the University of Dayton, as well as external individuals or entities which make payments to the University.  It applies to payments via check, ACH debit or credit card, and all other forms of non-cash payments. 

Policy History

Effective Date:  June 28, 2016

Approval:  October 29, 2025

Policy History: 

  • Approved in original form:  June 28, 2016

  • Approved as amended:  October 29, 2025

Maintenance of Policy:  Director of Student Accounts, Finance and Administrative Services

Policy

When any payment is returned from the bank or other financial processor as NSF, closed account, invalid account number, or other reason, the University reserves the right to assess returned check or payment charges to the payor or student account. 

If necessary, the University will take legal action to ensure proper reimbursement for NSF payments checks or other forms of denied payments along with all appropriate charges, costs, and legal fees. 

 

Appendix A to NSF Checks & Other Forms of Returned Payments Policy

The University will charge the greater of $35 or 1% of the amount of the returned payment for all forms of payment except credit cards.  For credit card chargebacks the University will charge the amount of the convenience fee assessed on the credit card payment. 

Contact For questions related to University Policies of Finance and Administrative Services, please contact:
Virginia Dowse, Assistant Vice President and Controller
937-229-2941 email