Wire Transfer Request Documents
- Wire Transfer Request Form
- Wire Transfer Quick Reference Guide
- Corporate Currency List (Updated January 2024)
Wire Initiators
| Tuesday–Thursday | Esmerelda Campos |
|---|---|
| Monday and Friday | Brian Reeves |
| Back-up for both | Terri Gardner |
Banking must receive your request for a wire from AP Auditors prior to 10:00 a.m. in order for it to be processed that day. If it is received after 10:00 a.m. it will be processed the following business day. All wire requests must go through the AP process prior to banking getting the documents.
Banking assigns a wire transfer number to each request and logs it in the wire transfer log. If you need to know the date a wire was done, Banking can give you that information from their log. The wire fee will be charged to the account indicated by the AP Auditor.
International Wires
If you are sending funds outside the United States, this is considered an International wire. Information needed to send this type of wire include:
- Account number, IBAN (if the country requires it), or CLABE number (Mexico)
- Beneficiary name (this must match the vendor name in AggieBuy)
- Beneficiary City
- Beneficiary phone number
- Swift code
- IRC (International Routing Code) (if applicable)
- Purpose of payment (department needs to get this from the beneficiary; it's different for different countries)
Additional information may be required from some countries, but that will be requested as needed.
Domestic Wires
A domestic wire is one where the funds a being wired inside the United States. Information needed is Account number, Routing number and Beneficiary name (which must match the vendor name in AggieBuy).
Wire Fees
| Type of Wire | Rate |
|---|---|
| Domestic | $6.00 |
| International (Outside US) | $15.00 |
| Foreign Bank and Money Orders | $17.50 |
Money orders can go up to $999.99. If more is needed, you will have to get a bank draft.
Time Frame for Wires
- US dollar domestic wire hits the vendor's bank the same day as initiated and approved.
- US dollar international wire (to a foreign bank) takes up to 2 days. The wire leaves our bank the same day; however, we have no control over when the foreign bank posts the funds to their customer's account.
- Foreign currency wire has a 2-day waiting period in our bank. The wire leaves our bank on the 2nd business day; however, we have no control over when the foreign bank posts the funds to their customer's account.
Wire Transfer Amounts
Wire transfers can be sent in US dollars or a foreign currency. When paying an invoice, it is best to pay in the requested currency. When paying an individual, please confirm their preference. Not all bank accounts will accept US dollars, and some will charge the beneficiary a fee to convert. Domestic wires will always be sent in US dollars.
We can pay the USD equivalent. For example, to pay an individual $1,000.00 for a speaking fee, if their account only accepts Euros, we can send the USD equivalent on that date. Specify which currency on the wire transfer request to avoid delays in processing.
- Examples:
-
- "1,000 EUR" to send 1,000 euros
- "$1,000 USD equivalent in EUR" to send Euros equal to one thousand US dollars
- "$1,000 USD" to send US dollars
Because foreign exchange rates fluctuate, the US equivalent cannot be determined until the time the wire is processed.
Some countries have restrictions regarding payment in the local currency, such as a minimum amount or additional information required. Contact the banking department if you have questions regarding any transactions. Attempts to retrieve funds from a foreign entity due to incomplete or erroneous information are expensive and can take a long time (or become impossible). Incomplete or inaccurate forms will be returned to the department.