Wire Transfers

In general, the university does not pay domestic payees via wire transfer. In rare instances, exception approval may be granted by the Accounts Payable Manager or Director of Accounting Operations.

Before a supplier invoice or miscellaneous payment can be made via a wire transfer, the payee’s record must contain valid banking instructions. When requesting a new payee or a change to an existing payee, attach the Wire Transfer Banking Instructions form to the applicable task in Workday. For suppliers, use the Create Request: New Supplier or Create Request – Supplier Change task. For miscellaneous payees, use the Create Request – Miscellaneous Payee task.

Note: It is highly recommended that the form be supported by something in writing from the payee. Departments are responsible for all fees associated with supplying incorrect banking instructions.  

Processing Time & Fees

  • The processing time of wire transfers averages four to six business days. Some payments may require supplemental IRS forms. In those cases the IRS requires a 10 day holding period. The Tax Department will contact the requesting department if additional information or forms are needed.
  • Wire Transfers will be paid in accordance with WashU’s standard supplier payment terms of 30 days (from invoice date).
  • Processing fees for wire transfers range from $5 – $30. These fees will be charged to the originating department (SC205 Bank Fees).

Got Questions?

Contact CFU_AP_ACH