Outgoing Wire Transfers
Outgoing Wire Transfers
Outgoing Wire Transfer
Effective January 4, 2019, please do not send Wire Transfer Requests by email to email@example.com. Please fax all Wire Transfers Requests to Accounts Payable by fax to 6-2393; by campus mail; or drop them off in person at Accounts Payable in the Thompson University Center, Floor 2.
Wire transfers are used to transfer a payment to a person or entity when there is no other way to pay them. It is not the UO preferred method of payment. Please note:
- Any wire transfer request received by AP after 10:00 am will be considered a request for the next day.
- You must put the Banner document on hold and leave the document incomplete (in process) or a duplicate check payment may occur!
- Persons or entities receiving payment MAY NOT fill out the UO Outgoing Wire Transfer. (The UO Outgoing wire form is used internally by the UO and should only be used by depts. to request a wire transfer to be processed by AP).
- Person or entities receiving payment should supply the banking information below by a secure method such as FAX or postal mail to you in order to request payment. (For security reasons they may NOT email banking information to you). Do not send the UO Outgoing Wire Transfer form to vendors or individual to be completed by them.
Use the following steps to complete the form. (The form must be filled in electronically. Hand written forms will not be accepted):
- Check Domestic or International Wire
- Fill in the date you want the transfer to occur
- Show the currency if other than U.S. dollars
- Beneficiary: This is the name of the person or entity that will receive the funds
- Beneficiary Account # and IBAN #. This is the bank account number and their IBAN# (international bank account number). This number has to be included for all European wires
- Beneficiary street address
- Beneficiary city/state/country
- Beneficiary bank name
- Bank ABA routing # for domestic wires or SWIFT/BIC# for foreign wires
- Bank street address
- Bank city/state/country
- Message for the person receiving the money to let them know what the payment is for
- Bottom of the page type in the UO department name, index and account code being charged
- Enter the payment in the Banner System with full document text (Contract/grant approval information/Budget approver information, explanation of what is being paid for, contract terms, partial payment information if applicable and etc.), put the document on hold and make sure the Banner document numbers is on the wire form. Leave the document incomplete or in process. AP will complete the document during the wire transfer processing. If you do not put it on hold and leave it incomplete then there is a risk is that both a check payment and a wire payment will occur creating a duplicate payment.
Print out the form and get department signature and date in the middle of the form.
Forward the following documentation to Accounts Payable:
- Completed wire transfer form
- Bank information that was supplied by the vendor (if not on invoice)
- Invoice (if applicable)
- Copy of contract or PO (if applicable)
- any other supporting payment documentation
The expenditure will be loaded to Banner on a Banner invoice by Accounts Payable, and processed as an online check in Banner. The check number assigned in Banner will start with a W and will be viewable in vendor history and all other forms that display check information.