How to Pay Vendors with Outgoing Wire Transfers

The Financial Transaction Request (FTR) Wire Transfer eForm can be used to generate Wire Transfer transactions when an ACH payment or check is not acceptable. It may also be used to send payment in foreign currencies. Please make sure the fund and account number(s) you are using is/are an accurate representation of the transaction. Financial Services reserves the right to correct any inaccurate account numbers.

Finance Transaction Request Info:
The Transaction Type you select is: Wire Transfer

*NOTE: The physical appearance of the FTR form will automatically change based on the Transaction Type selected. Therefore, it is important to complete this section first.

Wire Type – Choose either International for wires being sent outside of the US or Domestic for wires sent within the US.

Confirm the Dept. Approver 800#. This field is auto-populated with the 800# of the Preparer’s direct supervisor; it may be changed if a more appropriate ‘Approver’ exists. If you don’t know the 800# you can begin entering the name in the field and a list will appear to choose from.

Add Add’l Approver (Optional). If desired, click and fill-in an additional 800# to receive the transaction for approval. If you don’t know the 800# you can begin entering the name in the field and a list will appear to choose from.

Transaction Type Info:
Index/Fund & Account – Each line must be coded with a six-digit INDEX/FUND code and a six digit ACCOUNT code. To determine the Banner Fund Code use Banner form FTVFUND. To determine the Banner Account Codes use Banner form FTVACCT and consult the Expense Account Code List maintained by Reporting & Fixed Assets.
*NOTE: AN INVALID INDEX/FUND WILL INVALIDATE THE ENTIRE SUBMISSION.

Description – Each line must contain a description. The description can be up to 35 characters long.

Payment and Beneficiary Details:

Type of Currency – For International wires, choose the type of currency for the wire being sent, i.e. Euro, USD, etc.

Beneficiary Name – This is the name of the person or business receiving the wire. This must match the name on the bank account you are using.

Beneficiary Address – Please provide the address of the business or person receiving the wire.

Routing Number (for Domestic Wires) – This is the bank identifier and should be 9 numbers long.

Account Number/IBAN – For International wires, the IBAN normally begins with two letters followed by a string of numbers. Some International accounts do not use IBAN but may use just an account number.

SWIFT Number (for International Wires) – This is the bank identifier and may be just letters or a combination of letters and numbers.

Bank Name – Name of the bank receiving the wire.

Bank Address – Address of the bank receiving the wire.

Payment Explanation for Beneficiary – This should be an explanation the wire recipient will be able to use to identify the purpose of the payment. You can use an invoice number or a description such as “Registration for Math Conference for John Doe.” Some banks require a stated purpose for the wire and that may be included in this explanation.

How to find the transaction in Banner:

The transaction will appear as a book disbursement, created by General Accounting, in Banner. This is a JCD rule code and the document number will begin with the letter “D.” The wire information and backup will be attached to the book disbursement in Perceptive Content.

If this payment is related to a Travel Authorization (TA), list the book disbursement document number on your TA.

Last Updated: August 18, 2022