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 vendor’s bank account.   Examples of wire transfer payments are international payments, large payments, and emergency-type payments.

To request a wire transfer, the please do the following:

1.   Initiate the purchase order or check request (see Make a Purchase).   Wait for department
       approvals.

2.   Initiate a Wire Transfer Form (international or domestic) in RU Marketplace.

3.   Provide the information requested on the form, including purchase order and bank information.

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.  Accounts
​      Payable then creates a system invoice in RU Marketplace.

9.   Approve the system invoice (if the payment is $5,000 or greater). Approval will not
      result in a double payment
.

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