Outgoing WireACH Transfers and International Bank Drafts

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Outgoing Wire/ACH Transfers and International
Bank Drafts
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• Payments to Vendors via Wire, ACH or Draft
• In addition to an accounts payable check,
  payments can be made to vendors (both
  international and domestic) via
• Wire Transfer (international and domestic)
• ACH Transfer (Automated Clearing House) (domestic
  only)
• Draft (international only)
• Payments can be made in US dollars and most
  international currencies
• When possible please make payments to
  international vendors in their own currency. This
  method is more economical for the University.
• Fees
• There are no additional fees charged directly to
  departments
• Initiating the payment
• To make a payment to a vendor using one of the
  methods above
• Complete the Wire Transfer/Bank Draft form at
  http//www.payments.cornell.edu/General_Payments2.
  cfm (for specific questions about filling out the
  form contact Cash Management at 254-1590)
• Print it
• Secure all department approvals
• Forward the form and backup documentation to
  Voucher Audit (If you are requesting a draft
  please attach a campus envelope addressed to
  yourself)
• Voucher audit will forward the approved document
  to Cash Management
• Cash Management will complete the transaction and
  forward the completed transaction to Accounts
  Payable for keying to the general ledger
• Cash management will not send anything back to
  the department when the transaction is complete
  unless you requested a draft. The draft will be
  returned in the envelope that you attached to the
  Form. Please check your accounts in Brio for the
  completed transaction details.