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8.8.2 Request Payment by Wire Transfer

Policy Statement

Wire transfer or electronic funds transfer (EFT) are options for payments where there are legal/contractual requirements or international payments. International electronic transfers (foreign wires) are more secure than foreign checks (drafts). The following should also be noted:

• It is very important that the information to make an electronic funds transfer is accurate. Misdirected funds may never be recovered.
• Wire requests should rarely be used to expedite payment, or for payments under $1,000. In most cases, a vendor can be paid quicker by PCard, Check or ACH.
• Domestic wire transfers will not be approved unless a valid business reason for the wire is documented.

Procedure

To request payment by wire transfer:

1. Complete an Electronic Funds Transfer (EFT) form. The information on the form helps Cash Management (a unit of Treasury Operations) determine the appropriate electronic transaction type for timely delivery and lowest cost. If unsure how to complete the form or your transaction is complex, consult Instructions on how to properly complete an Electronic Fund Transfer Form or contact Cash Management at 217-333-6244.
2. Complete the appropriate standard document for payment:
   • Request a General Encumbrance/Wire Transfer Payment form
     or
   • iBuy Purchase Order Special Payment Request Form (SPR) posted in the University Forms section of the iBuy home page
     or
   • Create an Invoice Report in Emburse Enterprise
3. Attach any supporting documents to substantiate the validity of the transaction. Supporting documentation includes, but is not limited to, a receipt, vendor invoice, contract, banking instructions, etc.
4. Obtain signatures as directed on the forms. Retain all original forms in the unit's financial records.
5. For non-Purchase Order (PO) wire transfers or encumbrance requests, submit the form and supporting documents via email to obfspayments@uillinois.edu. Please keep the Electronic Funds Transfer (EFT) form as the first document so University Payables (UPAY) can recognize the transaction as a wire transfer.
   • For PO wire transfers, complete the iBuy SPR form and attach supporting documents, including the EFT form.
   • When entering a request in Emburse Enterprise please enter the amount in US currency. The amount will be updated to reflect the conversion amount at the time of transfer.
6. UPAY and Cash Management process electronic funds transfers when received or on the requested transfer date, subject to the availability of funds and/or financial institution wire transfer deadlines.

Related Policies and Procedures

19 Contracts

Forms Used in this Procedure

Electronic Funds Transfer (EFT)
iBuy Purchase Order Special Payment Request Form (SPR) (available in iBuy)
Request a General Encumbrance/Wire Transfer Payment

Additional Resources

Instructions on how to properly complete an Electronic Fund Transfer Form
University Payables Training Materials

First Published: September 2012 | Last Updated: April 2025 | Last Reviewed: September 2012