Frequently Asked Questions
- #1. What is a Swift Code?
The Swift Code is an international code used in transmitting international wires. It assists the sending bank in identifying the location of the receiving financial institution. This code is necessary for all international wire transfers. This code may be obtained from the receiving bank.
- #2. What is an ABA number?
The ABA number, also referred to as the bank routing number, is a nine-digit sequence used for identifying domestic financial institutions. The ABA number must be known to complete a domestic electronic transfer. This number may be obtained from the receiving financial institution.
- #3. Is the ABA number the same for an ACH or wire?
It can be but not necessarily. Be certain that when you inquire about the ACH that you specify as to whether you intend to send the transfer via an ACH or wire.
- #4. When will my domestic wire be received?
A domestic wire will be posted to the receiving bank account the same day as it is sent.
- #5. When will my ACH transfer be received?
An ACH (Automated Clearing House) will be posted to the receiving bank account the following business day that it is initiated.
- #6. Where can I find information regarding authorizing ACH disbursement for payments related to Accounts Payable disbursements?
For information regarding ACH authorization for Accounts Payable disbursements: https://fms.iu.edu/accounts-payable/ach-authorization/
- #7. When will my international wire be received?
Typically the funds will be credited to the receiving account within 5 to 10 business days. It is dependent on the country and the bank receiving the funds. International banking systems are different from the US and there can be subtle differences.
- #8. My client is stating nonreceipt of funds. What should I do?
Many times the amount sent is not necessary the amount credited to the receiving bank account. The recipient should wait 5 to 10 business days before checking their bank account. Then the recipient can ask their bank if a specific amount has been received, since bank fees have been applied to the incoming amount, the actual credit will be less. The recipient should approach their bank with dates of when the funds could have been received and also to state that the funds were sent from our bank, The Northern Trust Company located in Chicago, IL USA from Indiana University. If the funds still cannot be located, the IU department should contact this office so that we may pursue this matter through our bank. Keep in mind that there may be a research charge assessed by our bank and this charge will be passed to the department.
- #9. When should I request that a Wire model be set up?
If more than 2 payment requests to the same recipient occur in a one year period, the payment will be considered recurring. All recurring payments must be assigned a unique model number. To request a new Wire model number for a recurring payment, complete the Wire Model Request Form.
- #10. My vendor wants to pay electronically. What is the banking information for IU to receive payment by ACH or wire?
For security reasons Indiana University will no longer post our incoming Wire and ACH instructions on line. If you are in need of this information please follow the instructions below.
Instructions for Non-IU entities:
For instructions on sending electronic payments to IU please contact the IU department you are doing business with and request the information. If you or your company have an ACH or wire transfer authorization form you need completed please submit that with your request for information to the department you are working with.
Instructions for IU Students and Families
If paying via ACH debit (direct debit) to your bank account please follow the instructions found on this page: https://bursar.indiana.edu/payments-billing/payment-options/checking-savings.html
If paying with a Wire from a non-US bank in either US dollars or in a foreign denominated currency please follow the instructions found on this page:
This link will take you to instructions from our partner Western Union on how to use the Global Pay for Students service. Using this service is typically less expensive and quicker than conducting a direct wire.
If paying with a direct Wire from your US or foreign bank account please contact your campus bursar office for instructions on how to send payment. Note this payment method is the most expensive payment option available. Please reconsider sending payment either via ACH or with Global Pay for Students.
Instructions for IU Staff:
For instructions on sending electronic payments to IU please contact firstname.lastname@example.org
Your request must include the following information to be complete:
- Name and address of business or individual requesting banking information
- Name of IU department money is being sent to
- Invoice number to be paid or Student Identification number (no SSNs please)
- Contact name in the IU department
- IU department phone number and email address
Please note that these instructions are for internal IU employees only. Any direct requests for IU banking data must go through the department you are doing business with. Requests through this email box from non-IU employees will not be fulfilled.
- #11. What is Indiana University’s IBAN (International Bank Account Number)?
Indiana University does not have an IBAN number. An IBAN is not required to send money to IU from a foreign country. The University receives wire transfers on a regular basis from all over the globe using the standard bank account number and routing information. As long as a party desiring to send Indiana University funds has the bank account name, bank account number, and Swift Code this should be sufficient with regard to sending a wire transmission to the University. Specific instructions for sending funds to the University electronically can be found here.
- #12. A vendor has sent my department a form asking for our banking information. What should I do with it?
Fax the form to Treasury (812-855-3863) or contact Petra Bragt. In many cases these forms require a signature from our bank. Your department should complete your information on the form and then send to Treasury. We will add the banking detail, obtain the necessary signatures and return the completed form to you.