UBC departments and retail entities (e.g. Bookstore, Food Services) that require cash registers, change floats are used.
A coinage account (bank account) at HSBC is required to replenish the change floats with the required change/currencies. If your department needs change on a regular basis, you should establish a coinage account.
Establishing a Coinage Account
- Contact Otto Wong at Treasury.
- Specify the purpose of requiring ongoing change floats.
- Once the request is reviewed and approved, a coinage account will be coordinated for the department through HSBC.
- This coinage account is managed and reconciled by the department.
Depositing to a Coinage Account
- A coinage account must never be in an overdraft position. Therefore, it is mandatory to deposit fund in advance of withdrawing change (“making change”).
- The department deposits its own fund from operations either from petty cash or cash register floats.
- New coinage deposit forms can be ordered through HSBC or photocopied deposit forms are acceptable by HSBC.
Withdrawing from a Coinage Account (“making change”)
Only authorized individuals in the HSBC customer profiles can request a coin order to the designated address.
Please email your request together with the order template to email@example.com
Intria Operations requires 24 hours notification for cash orders. Please ensure there is fund available in the coinage account for the order.
Reconciling a Coinage Account
- Each department is responsible for reconciling its own coinage account.
- HSBC will provide the department with a monthly bank statement to complete the reconciliation process.