Electronic Payment Instruction Requirements

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The Treasurer's Office needs specific instructions in order to make an electronic payment. This information should be gathered as an integral part of the process of creating the obligation that leads to the payment; that is, you should obtain the necessary information while you are negotiating the initial contract, arranging the transportation, discussing the lecture honorarium, and so forth. (That is, it is more efficient to get this information earlier rather than later.)


Each type of payment has specific information requirements. Please click on the type of payment you need to have made to see the instructions for that payment. Note that ALL payments for products or services must first be approved by the Procurement Service Center (PSC).



  • Warrant (check) (within the United States)

  • Foreign currency draft (check)

  • Domestic wire transfer (within the United States) (US$ only)

  • International USD wire transfer (outside the United States) (US$)

  • International wire transfer (outside the United States) (foreign currency)

Warrant (check) (within the United States)



The Treasurer's Office will not make payments by warrant. Instead, please contact the Procurement Service Center. The PSC will need the vendor's name, address, properly filled-in Purchase Order (PO) or Standing Purchase Order (SPO), and departmental approval. No vendor payments can be made until the vendor's W-9 form with their Taxpayer Identification Number (TIN) is on file at the PSC.


 


Foreign currency draft (check)



While the preferred method of making payments in a foreign currency is the international wire, if the foreign banking information is not available, the payment can be made using a foreign currency draft which a department can mail to the vendor. The PSC will need the same information as that necessary for a warrant -- the vendor's name, address, properly filled-in Purchase Order (PO) or Standing Purchase Order (SPO), and departmental approval -- plus the foreign currency in which payment is to be made. There may be other information needed -- please contact PSC for additional information.


 


Domestic wire transfer (within the United States) (US$ only)



The following information is necessary to make a domestic wire transfer:



  • Name of the person / organization into whose account the money is being transferred

  • Name of the payee's financial institution

  • Routing number (also called ABA number or Routing and Transit Number) of the payee's financial institution

  • The payee's account number at that financial institution

  • Any information to help the payee identify the reason for the payment

International USD wire transfer (outside the United States) (US$)


The following information is necessary to make an international wire transfer in US dollars:



  • Name of the person / organization (payee) whose account will receive the wire transfer

  • Payee's full address, including the country

  • Name and address of, or other means of identifying, payee's financial institution

  • Payee's account number at that financial institution

  • Name of the financial institution's correspondent bank (if known)

  • Contract number, Purchase Order, or other appropriate documentation for the transaction

  • Any special instructions that apply to the transaction

  • Copy of the contract, payment order, wire instructions, invoice, registration form, etc.

Please be aware that all international wire payments may be subject to "lifting fees", other transaction fees, and taxes, which may deducted from the principal of the funds transfer rather than paid explicitly.


 


International wire transfer (outside the United States) (foreign currency)


The following information is necessary to make an international wire transfer in a foreign currency:



  • Name of the person / organization (payee) whose account will receive the wire transfer

  • Payee's full address, including the country

  • Name and address of, or other means of identifying, payee's financial institution

  • Payee's account number at that financial institution

  • The desired foreign currency

  • Contract number, Purchase Order, or other appropriate documentation for the transaction

  • Any special instructions that apply to the transaction

  • Copy of the contract, payment order, wire instructions, invoice, registration form, etc.

Please be aware that all international wire payments may be subject to "lifting fees", other transaction fees, and taxes, which may deducted from the principal of the funds transfer rather than paid explicitly.


If you have any questions or need clarification of these information requirements, please contact the Treasurer's office by email or by telephone to (303) 837-2185.