Minnesota State University, Mankato will assess a $30.00 NSF (non-sufficient funds) fee for all payments that are returned due to insufficient funds or due to incorrect information being entered for online payments. As a courtesy, we will re-submit a returned check once. Be advised that financial institutions may charge a fee each time a check is deposited and returned for insufficient funds which is in addition to the NSF fee assessed by the University.
Additionally, returned payments result in an Unpaid Balance Hold placed on the student’s account until the matter is resolved.
Minnesota State University, Mankato also reserves the right to reject all checks from individuals if they have written two or more bad checks across the Minnesota State system. Secured funds (guaranteed to be honored by the financial institution that issued them) must be used to satisfy debts from returned payments and related NSF fees. The following are recognized as secured funds:
- Cashier’s Check
- Certified Funds
- Money Order
Accounts that remain unpaid will be subject to Collection Referral.