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Receiving Bank Wires: Overview

Find out about receiving electronic fund transfers, also known as bank wires.

Many foreign and domestic institutions prefer to make payments using electronic fund transfers from their bank accounts to UCSD bank accounts, instead of using checks or cash. These transfers are wires or Automated Clearing House (ACH) payments.

Read the following to learn the differences and find out about requesting bank information ro receive these transfers or go directly to instructions to check for unclaimed or unidentified fund transfers.

Wires

  • Wires usually originate in foreign countries.
  • Payments are received in U.S. dollars.
  • Net amounts received usually reflect the deduction of bank charges of about $25.
  • Wires of $5,000 or more unidentified beyond 90 days may be subject to an additional $35 bank tracing fee.

ACH payments

  • Are made via an electronic payment network used by individuals, businesses, financial institutions, and government organizations
  • Are the most common format of domestic electronic fund transfers
  • Provide better cash management capabilities and lower costs than traditional paper payments
  • Include basic entry details such as:
    • Sender's name
    • Financial institution routing number
    • Account number
    • Amount
    • Effective date for the transaction

Addenda records

  • Addenda records or addenda information includes additional payment information such as:
    • Invoice number
    • Accounts receivable account number
    • Fund number
    • Contract or grant number
    • Department, or any other identifier

Note: To assist General Accounting in identifying the recipient of the funds, ask the sender to include this addenda information in the description of the wire or ACH.

Information on receiving electronic fund transfers

  • For the main campus depository account (wires or ACH payments), e-mail bankwires@ucsd.edu.
  • For the UCSD Clinical Practice Organization (C.P.O.), contact William Burnette, (619) 543-2262.
  • For the UCSD Medical Center (hospital), contact Gary Nittoly, (619) 543-3690.
Notice: This is a summary of campus business services. In case of conflict in interpretation, the actual policies apply.