Initiate a Wire Transfer

What is the wire transfer process?

A wire transfer is a payment mechanism for a previously approved transaction (purchase order or check request). The wire transfer is an electronic funds transfer (EFT) where funds are sent to the supplier’s bank account. Examples of wire transfer payments are international payments, large payments, and emergency-type payments.  Domestic wire transfers will be approved on a case-by-case basis.

To request a wire transfer, please do the following:

  1. Initiate the purchase order or check request (see Make a Purchase). Wait for unit approvals.
  2. Initiate a Wire Transfer Form in RU Marketplace:
    • Go to the left-hand side Shop menu and click Shopping
    • Under Go To, click View Forms
    • Click on Supplemental Forms under Shared Forms
    • Select the appropriate wire form
  3. Provide the information requested on the form, including purchase order and bank information. Be sure to attach necessary documentation to the form.
  4. Submit the form for approval.
  5. Track the wire transfer status in RU Marketplace. Status can be checked by inputting a requisition number, purchase order, or invoice number in the search bar on the upper right-hand side of the homepage. Use the Execute a Document Search job aid for assistance.
  6. Wait for Accounts Payable and Treasury to review the wire request.
  7. Provide clarifications or additional information if requested by Accounts Payable or Treasury.
  8. Wait for Treasury to approve the request and execute the wire transfer payment.
  9. Accounts Payable then creates a system invoice in RU Marketplace. Approve the system invoice (if the payment is $5,000 or greater). Approval will not result in a double payment.



Related Job Aids and Training

Creating a Wire Transfer
Searching for Documents in Marketplace