The University of Georgia Foundation Wire Transfers/EFTs (Electronic Fund Transfers) :: Expenditure Control :: UGA Foundation

 


Wire Transfers/EFTs (Electronic Fund Transfers)

POLICY: 8.19
Effective Date: 06/01/2008
Last Updated: 12/02/2009

The Foundation allows for disbursements in the form of wire transfers or otherwise called EFTs (Electronic Fund Transfers). the Foundation Office can wire payments to domestic (within United States of America) or foreign vendors and some foreign currency. Note that if wires are sent in foreign currency such as Euros that the Foundation Office may have to make adjustments to the posted IFAS amount due to exchange rates. A check request must be submitted as usual with all the proper documentation with the exception that EFT should be clearly marked in the upper right hand corner of the request. Also, all the pertinent banking information for a wire transfer must be submitted with the documentation for the request.

The following information is required before a wire can be processed properly.

Domestic Wires:

  • Bank Name
  • Bank Address
  • ABA #
  • Account Number
  • Account Name
  • Any information for FFC (For Further Credit); this includes a sub account # or name
  • Reference or additional information

International Wires:

  • Currency to be used
  • Bank Name
  • Bank Address
  • SWIFT or BIC Account # (NOTE: this is an alpha-numeric account)
  • IBAN # (International Bank Account Number); must have for all EU countries (NOTE: this is an alpha-numeric account)
  • Account Number
  • Account Name
  • Routing or Sort Code
  • Any information for FFC (For Further Credit); this includes a sub account # or name
  • Reference or additional information