Electronic Funds Transfers – Domestic and International

How do I initiate an electronic funds transfer, and where do I find the appropriate forms?

To initiate an electronic funds transfer and to access all related forms, visit the Electronic Funds Transfer section of the Financial Operations Policies and Procedures website.

Can I use a Payment Request for an Electronic Funds Transfer?

No, at present, electronic funds transfer requests can be accepted in paper form only.

How can I check the status of an electronic funds transfer?

For the status of an electronic funds transfer, contact electronictransfers@northwestern.edu.

How long does it take for an electronic funds transfer to be completed?

The normal turnaround time for domestic electronic funds transfers is 1 day – providing all needed information and documentation are provided. When Accounts Payable receives a request, the information is first verified. The forms are then sent to Treasury Operations where the electronic funds transfer is initiated. Treasury Operations sends Accounts Payable confirmation that the funds have been sent; this confirmation is then forwarded to the requester. For international electronic funds transfers, the normal turnaround time is 2-3 days, as it could take an additional day or so for the funds to be deposited to the specified account.

Do I need a vendor code for an electronic funds transfer?

Yes, a vendor code is needed for all electronic funds transfers.

Are there charges associated with electronic funds transfers?

At present, there are no charges for processing electronic funds transfers.

How do I initiate a foreign currency check request?

Unfortunately, this service is no longer offered.