Overview: Incoming Wire Transfer and ACH Payment

Learn how to: 
Instruct third parties how to make electronic payments to Stanford and ensure that funds are properly accounted for

For:  Staff

Wire transfers and Automated Clearing House (ACH) payments are two methods of electronic payment that can be used when organizations are paying Stanford for goods or services.

When staff is arranging payment to the University via wire transfer or ACH, the following is required to ensure that the incoming payment is properly identified and booked.

• Notify Cash Management of the expected incoming funds including:
  
  
  • how much the payment will be
  • who it will be from
  • to which PTA the transfer should be booked
• Instruct the paying party to include information in the message field which clearly identifies:
  
  
  • what school or department is being paid
  • a Stanford contact (Stanford person responsible for the transaction)
  • what the payment is for.
• If the funds are to arrive by ACH (Automated Clearing House), instruct the paying party to request a CCD+ or CTX format as this allows for much more remittance advice to be included.
• Follow Stanford's wiring instructions

Questions?

• Need help finding an expected receipt? See Overview: Claiming Unidentified Receipts.
• For information on outgoing wire transfers and ACH payments, please see How To: Request an Outgoing Wire Transfer or ACH Payment.
• Contact the Financial Support Center (3-2772).