Go to Main Content


When do cheques, drafts, and electronic funds transfer’s (EFT) get issued or transmitted?

The University issues payments to vendors and expense reimbursement claimant using a variety of payment methods, such as cheque, draft and electronic funds transfers.

The clearing/transmission dates for each payment depends on the Payment Terms (e.g. 35 days net, 7 days, 20 days), which defaults from the Vendor Master Record/Business Partner and the Invoice Date.

Here is a table that outlines when various payment methods typically get issued at the University:

Transaction Payment Method Currency Issue/Transmission Date
Invoices, Expense Reimbursements, Refundable Deposit Refunds Cheques (CAD/USD)




EUR (Euro)

JPY (Japanese Yen)

HKD (Hong Kong Dollar

SGD (Singapore Dollar)

Invoices EFT CAD Tuesdays
Expense Reimbursement Direct Deposits (ERDD) Direct Deposit CAD Tuesdays and Fridays

NOTE – These transmission dates do not apply to Outgoing Wire Transfers. To learn about the requirements and process for Wire Transfer payments, please see this article or watch the Lunch & Learn on this topic.

Watch this simulation to learn how to determine the status of a cheque, draft or electronic funds transfer (EFT).

Learn More:

Last Updated:  May 30, 2024