Requesting a Wire Transfer Payment

A wire transfer is an electronic payment made to a supplier from UCSF’s bank account directly to the supplier’s bank account. Generally, wire transfers are accepted world-wide, though wire transfers cannot be processed to a sanctioned country.  

Before requesting a domestic wire payment, you should consider sending the payment via ACH. 

ACH is the preferred method which is faster and less costly than payment by wire. 

A foreign wire transfer should be utilized if the payee’s bank does not accept check drawn on U.S. dollar account or the invoice is billed in foreign currency.  

It is crucial that Accounts Payable is given accurate information and sufficient lead time to make correct and timely payment. The risk with wire payment is the limited possibility to recover funds if wire instructions provided are incorrect or incomplete.  

1. Wire Processing Time – Once the complete and accurate payment form with the wire information is submitted to Accounts Payable, the normal processing time is ten (10) business days to process an invoice and an additional ten (10) business days to initiate, approve and release a wire payment. Please note that wire payments are the slowest payment method that UCSF offers as it takes several individuals to process, initiate, approve and record payment. The scheduled due date in PeopleSoft is only a placeholder in the system when it comes to requesting payment be made via wire. Note that wire payments cannot be expedited. 

2. Release Value Date – The date funds are released from the UCSF bank is known as ‘Value Date’. The University cannot guarantee when a wire transfer will be credited to a payee's bank account as this is determined by the receiving bank’s policy and procedure. 

3. Wire Transaction Fees – Suppliers/Departments should be aware that most banks charge additional fees to receive incoming wires from U.S. based bank accounts. Please be aware that the full amount of the invoice may not be received by the payee.