Receiving ACH/EFT and Wires

Directive Statement

For incoming ACH/EFT or wire payments, Banking & Merchant Services should be informed by the department at the time of billing, or prior to receipt of each ACH/EFT or wire payment.

Reason for Directive

To ensure quicker tracking of the incoming payment and proper recording of those funds into the correct department’s accounts.

Who Must Comply?

All University departments.

Procedure & Best Practice