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  • Electronic Funds Transfer (EFT) Policy

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All other University policies governing purchasing and the submission of documents for payment to the Business Office must be followed. All supporting documentation (i.e. invoice, purchase order, or contract), including banking information supplied directly from the vendor, must be attached to the Wire Transfer Request Form, must be properly approved and cannot be circumvented. Please refer to the Procurement Approval Authority & Payment Authorization Policy for examples of proper supporting documentation and approval guidelines.

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The Wire Transfer Request Form should be completed and signed by the Requestor and Approver in accordance with Section 3.0 of the Procurement Approval Authority & Payment Authorization Policy.  If the wire amount requested is for $15,000 or greater, then the Wire Transfer Request Form must have additional approvals in accordance with Section 5.0 of the Procurement Approval Authority & Payment Authorization Policy.

 

Subsequent Review

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Once a wire transfer is initiated, the Controller’s Office cannot cancel or modify the transaction.

Waivers and Exceptions

Departments subject to the mandatory requirements or standards set forth in this policy may request through the Controller’s Office a waiver or exception from a particular requirement or standard that cannot practicably be followed without substantial operational hardship or excessive cost. Any waiver or exception to this policy must be documented through the Controller’s Office and are is required to be reviewed and approved by Information Security Officer and Office of General Counsel. The waiver or exception may be granted provided that waiver or exception would not result in a violation of applicable law or regulation.two of the following individuals: President, Senior Vice President for Finance and Administration/Treasurer, and/or Senior Vice President of Academic Affairs and Provost..

Contact Information

Departments should contact the University Controller’s Office for further guidance on EFT payments.

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