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Incoming Wire Transfers

 The University’s procedures regarding incoming electronic funds transfer transactions are defined and outlined below.

 For specific policy guidelines, please consult the Cash Management Policy.

Electronic Fund Transfers (EFT) Requirements

 Units must complete the Incoming EFT Form prior to the initiation of a wire/ACH transfer by the payor, and send to Depository Services in order to identify the incoming revenue.

  • When funds are received, Depository Services will create a Cash Ticket Receipt (CRT) and email the department for review and committing of it.
  • This form should be emailed to Yan Shen yan-shen@northwestern.edu.

Non-student Payments

All incoming non-student, non-gift payment EFTs should be directed to Â鶹´«Ã½’s main bank account at JP Morgan Chase with instructions for the sender to include as much pertinent information as possible.

  • Name of department or departmental contact name.
  • Purpose of payment
  • Invoice number

Student Payments

All incoming student payment EFTs should be directed to Â鶹´«Ã½’s Student Financial Services account at JP Morgan Chase with instructions for the student or parent to include as much pertinent information as possible. 

  • Student name and ID number.

Gifts

Gifts sent via wire transfer or ACH should be sent to the bank provided in the directions located at .  If notified by a vendor that a gift electronic funds transfer has been sent, please contact GRS at giftupdate@northwestern.edu.

Unidentified EFTs

 If any funds are transferred to a non-Chase bank, they cannot be identified by Depository Services and therefore cannot be credited to the proper account.  If funds were sent to a non-Chase bank, please contact the sender to recall funds and re-send to the appropriate Â鶹´«Ã½ bank account.

Unidentified EFTs received in the Chase main bank account will be credited to the University’s general revenue account if they are not timely identified by a department or unit.  Please search for funds based on expected arrival date and/or funds sender as the amount received may be reduced due to correspondent banking charges.  If you suspect that your department may have received funds that have not been credited to your chartstring, please consult the unidentified EFT list.

The University’s procedures with regard to the acceptance and handling of credit and debit card transactions are defined and outlined below.

For specific policy guidelines, please consult the Cash Management Policy. 

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