Outgoing Wire Transfer
Outgoing Wire Transfer
Due to Covid-19 there is now a Wire Transfer Request Upload on the BAO forms site that you can use to make your outgoing wire request upload your supporting documentation. Due to the increased number of outgoing wire transfers, PLEASE ALLOW a MINIMUM of 3 days for processing. If the wire is absolutley a RUSH then please notify firstname.lastname@example.org that you have a RUSH wire transfer, otherwise Accounts Payable will work to get the wire transfer processed as quickly as it can. If you are unable to use the Wire Transfer Upload Form, please fax your Wire Transfers Requests to Accounts Payable to 541-346-2393 with ALL supporting payment documentation, including the banking information that was provided to you securely by the vendor.
Wire transfers are used to transfer a payment to a FOREIGN person or entity when there is no other way to pay them. It is not the UO preferred method of payment. Wire transfers are NOT used to transfer payments to domestic (U.S.) vendors - only under unusual circumstances. Please note:
- Any wire transfer request received by AP after 10:00 am will be held and sent on the next if possible. Any wire Transfer received by AP after 10:00 am on Friday will be held for the following Monday wire transfers.
- You must enter and put the Banner document on hold and leave the document incomplete (in process) or a duplicate check payment may occur! (For CONCUR Travel Reimbursements processed by wire transfer, please notify the Travel Dept. immediately once you have completed the travel reimbursement in Concur).
- 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).
- Forward Contact# (Leave blank. This is not the PSC, PO or contract number. This is a special kind of contract)
- UO Wire Number field (leave blank). This is assigned by Central Accounts Payable
- Fill in the date you want the transfer to occur
- Amount of wire transfer
- Currency (if other than U.S. dollars). If U.S. dollars then leave blank.
- 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
- Beneficiary Bank ABA routing # for domestic wires or SWIFT/BIC# for foreign wires
- Beneficiary Bank street address
- Beneficiary Bank city/state/country
- Message for the Beneficiary - for the person receiving the money to let them know what the payment is for. Example: put Contract, PO, and/or invoice number or brief description of payment. There is limited space for the message to be entered on the actual wire transfer.
- Beneficiary email Address (optional)
- Department Signature. This is the Budgetary Authority or Approver of the wire transfer (may be different from dept. staff completing this form and uploading the request. The uploaded wire transfer should be forwarded electronically to the Budgetary Approver/BA to electronically sign). If uploading the form for the BA to sign electronically, this field may be left blank if you are unable to have them sign due to remote working. An email approval can be uploaded with supporting documentation, but the uploaded wire transfer form must be routed for the BA to electronically sign.
- Agency Authorized Initiator's Signature. Leave blank. This signature is for authorized Accounts Payable/BAO staff.
- Agency Authorized Releaser's Signature. Leave Blank. This signature is for authorized Accounts Payable/BAO staff.
- Bottom of the page type in the UO department name, index and account code being charged
- Fill in the Banner document number. 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 (in FAAINVE on the Invoice Header page go under the TOOLS menu in upper right corner, select Document Indicators, then check the HOLD box and change it to single or one invoice per payment). Make sure the Banner document numbers placed on hold 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.
CONCUR Travel Reimbursements: Please complete Concur travel reimbursement and then immediately notify Travel Dept. that you need to process the travel reimbursement by wire transfer. Travel must put the Banner C document on hold to avoid the payment paying as a check. The wire transfer will be processed by Accounts Payable. Please follow the remainder of wire transfer directions below.
Print out the Wire Transfer form and get department signature and date in the middle of the form (if faxing to AP). If uploading the Ougoing Wire Transfer form and you are unable to get a digital or ink signature, then an email approval is acceptable for docuemnation purposes, but the uploaded Outgong Wire Transfer form must be routed electronically to the Department BA approver to elctronically sign.
Forward the following documentation to Accounts Payable attached to the Wire Transfer Request Upload Request Form (or fax):
- Bank information that was supplied by the vendor (if not on invoice)
- Invoice (if applicable)
- Copy of contract or PO (if applicable)
- Copy of Concur Travel Reimbursement report (if applicable)
- any other supporting payment documentation
The expenditure will be loaded to Banner onthe Banner invoice by Accounts Payable, and processed within a weeks time 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.
- Outgoing wire transfer form (do not send this form to vendors for them to complete or use this form unless absolutely necessary. This form is now an elctronic form within the Wire Transfer Request Upload form.
- Wire Transfer Request Upload form
- Currencies we can use
- Wire Transfer Definitions
- Vendor Setup Instructions
- Options for Foreign Payment
- Foreign Entity Flow Chart