Electronic Funds Transfers

Process Overview

ACH versus Wire Transfers (Incoming)

Formats for ACH and Wires

ACH Requirements for Payor

Wire Transfer Requirements for Payor

Recording of ACH Credits and Incoming Wire Transfers

Unclaimed Incoming Wires and ACH

Forms

Contacts

Process Overview

Virtually every major bank in the country is affiliated with either NACHA or a local clearing house organization. NACHA has adopted rules and data formats, which are industry standards, and so enable financial transactions to be sent anywhere in the United States. These transactions are commonly referred to as "ACH" transactions.

In addition, funds may be sent from one bank to an account at another bank by wire transfer. The formats for these transactions are different from ACH. Funds can be sent both domestically and internationally via wire transfer, while ACH transactions are domestic only.

Some payments received by University departments are done electronically, by ACH (Automated Clearing House) or wire transfer.

ACH versus Wire Transfers (Incoming)

Formats for ACH and Wires

ACH Formats / Entry Codes

Wire Transfer Format / Entry Code

ACH Requirements for Payor

Wire Transfer Requirements for Payor

Recording of ACH Credits and Incoming Wire Transfers

1. Date the Wire Transfer or ACH is to be received
2. Amount
3. Source (Agency, Company Name, Person's Name)
4. Budget Number to be credited
5. Department contact person and phone number

If the budget number to be credited is a Grant and Contract Account (budget number starting with local program 20-xxxx, 6X-xxxx, 80-xxxx) send information to:
Grant and Contract Accounting
c/o Mickey Galbreth
Box 351122
Email: galbreth@u.washington.edu

If the budget number to be credited is other than a Grant & Contract Account (budget number starting with other than the above), send information to:
Financial Accounting - Bank Reconciliation Unit
c/o Evelyn Jagoring
Box 351120
Email: evelynj@u.washington.edu

In addition, for daily cash flow purposes, Financial Accounting requests that Campus Departments notify Cash Management staff of any large ($50,000.00+) amounts that they expect the University to receive via electronic fund transfer. Send email to:
My-Hahn Tong
Box 351120
mhtt@u.washington.edu
cc: bankrec@u.washington.edu
subject: Cash Flow

Unclaimed Incoming Wires and ACH

Description

The University of Washington receives many wires and ACH transfers (electronic bank transfers) from various agencies. Often the information provided to the UW from the bank is not enough to determine exactly to what or whom the payment is related. This listing includes all wires and ACH payments that the UW has received, for which a journal voucher (JV) has not been received (and therefore the recipient department has not been credited). Please read the instructions below on how to claim these wires. Note that this listing is updated on a monthly basis as new unclaimed wires are received and existing wires are claimed.

If your department is expecting a wire or ACH deposit and it was not sent to the UW's main account, it may have been sent to Invoice Receivables. You may contact IR at (206) 543-7560 for additional information.

How to Claim Wires

If you see a wire on the listing that is related to your department, please send an e-mail to Bank Reconciliation at bankrec@u.washington.edu. In the e-mail, include item#, amount, what budget the wire/ACH should be credited to, and the nature of the payment (i.e. payment on a grant, etc.). A JV will generally be processed within four days and you should see your budget credited on the next BAR.

Unclaimed Wires Listing

The information provided on the website is a deciphered version of what the UW receives from the bank. The bank reconciliation people have provided the only meaningful information included in the bank information. The bank charges an additional $25 or $50 to obtain additional information about the wire.

The figures on the website are in US dollars. If you are looking for a wire that was to be made for a certain amount of foreign funds, you will need to convert the figure in US dollars in order to match the dollar amount per the bank.

Forms

• Electronic Fund Transfer Authorization Agreement
• ACH Vendor / Miscellaneous Payment Enrollment Form

Contacts

Evelyn Jagoring
Accounting Supervisor
Bank Reconciliation
Box 351120
Telephone: (206) 543-8826
Email: evelynj@u.washington.edu

My-Hahn Tong
Senior Accountant
Bank Reconciliation
Box 351120
Telephone: (206) 543-9221
Email: mhtt@u.washington.edu

Invoice Receivables
Box 355872
Telephone: (206) 543-7560
Email: invoices@u.washington.edu