How to use an outgoing wire transfer to pay a vendor or other service provider.
A wire transfer is a method of Electronic Funds Transfer (EFT) that can be used to pay a person or entity locally or in a foreign country in either US Dollars or a foreign currency.
Wire transfers should primarily be used to pay an international vendor or other service provider. A wire transfer should only be used to pay a domestic (within the USA) vendor or service provider because an ACH is not timely; this should be a one-time solution.
Cost
| Type of Payment | Amount of Fee |
|---|---|
| International Wire Transfer in Foreign Currency | $0.00 (No Fee) |
| International Wire Transfer in US Dollars | $16.00 |
| Domestic Wire Transfer in US Dollars | $2.25 |
| ACH Payment (Domestic Only)* | $0.00 (No Fee) |
*Search the vendor in WISER to see if the default payment method is Automated Clearing House (ACH). If it is, the Outgoing Wire Form is not necessary. If the vendor payment method is not set to ACH, contact acctg@bussvc.wisc.edu to see if it can be set up.
How to complete the payment
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1. Complete the appropriate form
2. Attach appropriate documentation
The completed form must be attached to the front of the appropriate Accounts Payable expense request document: Direct Payment (DP), Payment to Individual Report (PIR), Purchase Order (PO), or e-Reimbursement.
3. Obtain Dean/Division Approval
Forward the expense request with the completed form to your Dean’s Office for approval and signature. The Dean’s Office will then submit the approved documents for review and processing to Accounts Payable.
