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Incoming Wire Transfers

This section covers the process and responsibilities surrounding incoming wire transfers except for payments of accounts receivable invoices *, i.e. situations where a department is aware of monies to be received via wire transfer into the University’s central bank account or a departmental subordinate bank account .

* For payment of accounts receivable invoices, the customer should contact the Supervisor, Accounts Receivable to obtain the correct banking information to ensure efficient application of the payment against the invoice in FIS.

Departmental Responsibilities

  • The department should provide the payer with all required banking information necessary to wire the funds to the University of Toronto bank account, or the departmental subordinate bank account if appropriate arrangements have been made with the Financial Services Department. Please contact the to request the bank information required for the payer to wire the funds.
  • Complete the Incoming Wire Transfer form – orĀ PDF and forward to the Financial Services Department

Financial Services Department Responsibilities

  • Once the Financial Services Department receives notice from the bank of the completed incoming wire transfer, the transaction will be recorded to your accounts in FIS.
  • Any bank charges associated with incoming wire payment will be charged to the department

Last revision September 2010