Wire Payments
Information included on this page:
- Wire Payment Conditions
- Approving a Wire
- Necessary Wire Information
- Wiring Foreign Currency
- Fees
- Risks
Wire Payment Conditions
Payment by wire transfer is negotiated at the time the order is placed by the Purchasing Department. Requests from the vendor for payment by wire transfer are not honored unless prior arrangements were made at the time the contract or order was placed.
Payment by wire may not be the best method of payment because:
Other payment alternatives are the ProCard or the Corporate Travel Card (for travel related expenses only) for both domestic and foreign payment |
Other payment alternatives
Other methods include the ProCard or the Corporate Travel Card (for travel related expenses only) for both domestic and foreign payment.
In some cases, payment by wire may be the only option.
This hold true for countries such as India, Africa, Russia, China and most third world countries. Funds sent by wire is less likely to be lost than payment by check sent by mail.
Approving a Wire
Note: The requesting department must note "Please wire funds" in the comments section of the PAS purchase requisition. If the request to wire funds is not noted on the requisition, a check will be mailed instead.
The invoice must be accompanied by an Invoice Voucher (UoW 1730), and the wire information must be included in the Detail Description field of the invoice voucher. Also within this section, provide a clear description of the goods being invoiced for to facilitate the proper application of tax. For service related payments, describe the nature of the work and the location of where the work was performed. Within the Special Instructions field, make sure to note “please wire funds” and comment on the currency to be paid (if different from US $$).
The Invoice Voucher and the wire information must be emailed to apwires@uw.edu. Prior to submitting the wire request, check the PO to ensure that it’s currently in a payable status and confirm that there are enough funds to cover the full cost of the invoice.
For payments that are not processed through the PAS purchase requisition (i.e. field advances, real estate, etc.), wires can be arranged by special request. Please contact Procurement Customer Service at (206)543-4500 or pcshelp@uw.edu.
Necessary Wire Information
A wire request must include the following:
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Foreign Bank
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Domestic
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Bank name, address, and country
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Bank name, address, and country
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International bank account number (IBAN)
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Bank account number
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Sort code or BSB (identifies the bank branch)
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ABA (routing number of the bank)
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Payee account name as listed on the account
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Payee account name as listed on the account
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Payee permanent address
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Payee permanent address
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| Swift code (international bank identifier) | Reference Information (i.e. PO number, Invoice number, etc) |
| Reference Information (i.e. PO number, Invoice number, etc) |
Wiring Foreign Currency
Invoice paid in a foreign currency is subject to the exchange rate, on the day the wire was sent. As a result, the amount encumbered on the requisition will not match the exact amount paid.
Fees
Type of Fee |
Cost and Additional Information |
|---|---|
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International wires
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$25.00 per wire
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Domestic wires
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$10.00 per wire
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Currency conversion fees
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This is a service currently provided at no cost by our bank.
Rate changes may however result in a loss |
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Wire returned for incomplete / incorrect information
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This fee amount is determined by the receiving bank and will vary.
Re-sending the wire will result in an additional transaction charge |
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Additional Fees
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These fees may be deducted by the beneficiary bank from the final amount sent to the payee.
The University of Washington has no control over these fees. |
Risks
Risks may include but are not limited to the following:
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Incorrect information provided could result in returned funds or a credit to the wrong account.
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Beneficiary bank may return funds if incomplete reference numbers are provided.
