Wire Transfer

A wire transfer is a payment made to a foreign supplier by electronically transferring payment from UC Berkeley's bank account directly to the supplier's bank account. Generally, wire transfers are accepted worldwide, though a wire transfer cannot be processed to a sanctioned country.

Wire transfers are used to pay foreign suppliers only. Suppliers with a U.S. bank account should authorize an Electronic Funds Transfer (EFT).

Fees

Many recipient banks levy a handling fee (or landing charge) for the administration of wire transfers. This practice varies but is common among Asian and European financial institutions. The handling fee is deducted from the wire transfer, and consequently, the beneficiary’s bank account may not be credited with the full amount that was originally disbursed by UC Berkeley. UC Berkeley does not reimburse suppliers for wire transfer fees.

Currently, the fee charged by UC Berkeley’s bank to initiate a wire transfer is paid centrally. This fee is not distributed to suppliers or to departments requesting wire transfers.

Confirmation Number

A confirmation number indicates the sending bank has initiated the transfer. The confirmation number does not imply that the beneficiary has received the funds. Such code numbers are internal to the processing bank and generally have no relevance to the beneficiary’s institution.

Processing Time

The university cannot guarantee when a wire transfer will be credited to a beneficiary's bank account. The processing time is impacted by the location of the receiving bank and correspondent relationships between the financial intermediaries through which the wires are processed.

Bank Code Definitions

Please refer to the Bank Code Definitions for Requesting Wires (PDF) for commonly used bank code definitions.

Currency Conversion

Unless specifically billed on the invoice or requested otherwise by the supplier, the wire transfer will be issued in U.S. dollars.

If payment in a foreign currency is required, please calculate the estimated currency conversion and enter the amount converted to U.S. dollars when submitting a BearBuy Payment Request Form.

Please attach a screenshot of the currency conversion in BearBuy as backup documentation.

The final amount charged to the department’s chartstring will be based on the currency conversion rate used by UC’s bank at the time the wire is issued. Accounts Payable will monitor the bank activity and will update the voucher amount in BearBuy accordingly.

Resources

Bank Code Definitions for Requesting Wires (PDF)

Instructions for Submitting a Wire Transfer

New supplier profiles are created using the BFS Supplier Onboarding Portal. Please refer to the Supplier Onboarding Overview page for more information. During the onboarding process, the supplier is provided with the opportunity to complete a Foreign Bank Authorization (FBA) Form and attach it to the portal submission. Accounts Payable will keep the FBA form on file for future reference.

If an existing supplier wishes to add or change their wire transfer instructions, they should submit a Foreign Supplier Information Update Form found on the Updating Existing Suppliers page. Accounts Payable will keep the form on file for future reference.

Prior to initiating a payment request, it is a best practice for departments to confirm with the supplier that they have submitted wire transfer instructions. When in doubt, please submit an updated form.

For BearBuy Payment Requests

  • Create a Payment Request Form in BearBuy
  • Select 'Wire' for Override Pay Method
  • In the Ticket Number input field, enter 'Wire Instructions On File'
  • In the Currency input field, enter the currency in which the payment should be made
  • If requesting foreign currency, please attach a screenshot of the currency conversion

For Travel Reimbursements Paid by Wire

  • Please do not create a reimbursement request in the Reimbursement system
  • Instead, submit the reimbursement on a BearBuy Payment Request Form
  • Attach the applicable completed travel reimbursement form:
  • Ensure all documentation and receipts are included and requirements are met
    • Please refer to the Reimburse Foreign Visitors for Travel Expenses page for more information
    • If the payee is a UC student or employee, the requirements referenced for foreign visitors do not apply regardless of their citizenship status
  • Note the currency conversion to U.S. dollars on the receipts, where applicable
  • Please refer to the Documentation and Receipts page for more information
  • Redact any confidential information
  • If any additional documentation needs to be attached after submission of the Payment Request, please attach to the voucher in BearBuy

For Invoices

  • Please add a note in the Internal Payment Note section of the PO that payment should be made by wire transfer
  • If possible, also note on the invoice that payment should be made by wire
  • Email invoices to ucinvoice@berkeley.edu
  • If an invoice contains banking information that is different from the most recent wire instructions form on file, the department may be asked to obtain a current form from the supplier
  • The wire transfer will be issued in the currency that was billed on the invoice
    • The amount charged to the department's chartstring will be based on the currency conversion rate used by our bank at the time the wire was issued

Checking the Status of a Wire Transfer

The status of a wire transfer can be referenced in BearBuy under the Approvals tab. It takes approximately 3 to 4 business days for Payment Request Review.

Some payments may be subject to additional tax review or travel reimbursement review. Additionally, it takes 1 to 5 business days for the bank to release funds after the final wire approval.

Privacy Notice

Please do not scan and attach the Foreign Bank Authorization Form, or documents containing any confidential information, to a Payment Request Form in BearBuy. Please refer to the Data Privacy Job Aid (PDF) for more information on requirements for protecting restricted information.