format_list_bulleted Topic Overview

Incoming Wire Transfers and ACH Payments

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

Beginning on February 26, 2024, the Deposits and Receipts Manager system was launched to replace the former Unidentified Receipts and Branch Deposits website. This consolidated application with the Mobile Deposit Correction Tool will make it easier to claim check deposits and incoming electronic payments, along with correcting mobile app deposits in one place. For a summary of changes, visit the New Deposits and Receipts Manager System news page.

ACH payments are efficient, cost effective and preferred over wire transfers when funds can be electronically transferred. Most governmental agencies transfer funds via ACH when transactions involve large institutions like Stanford.

ACH payments are primarily an overnight process that go through the automated clearing house before settlement into the university’s bank account. If the funds are to arrive by ACH, instruct the paying party to request their bank use a CCD+ or CTX type ACH format as this allows for more remittance advice details to be included in the addenda field. Remittance advice information could include the name of the payer, purpose or other identifying details. See more information on Managing and Claiming Incoming ACH and Wire Transfers below.

Wire transfers are a same-day form of payment. Depending on wire type and purpose, departments should provide a copy of the appropriate template to the paying party:

Payment Type Template
Payments to Stanford University's main account      General Template
Payment for a student at the university Students AR Template
Gifts or Affiliates payment to the university Gifts or Affiliates Template
Payments to the Office of Sponsored Research OSR Template

For assistance with sending payments to the Graduate School of Business, contact GSB Finance directly:

Employees that assist a third-party in arranging a wire transfer or an ACH payment to the university are responsible for ensuring that the incoming payment is properly identified and booked to the correct Project, Task, Award, and Expenditure Type (PTAE) or Project, Fund/Award, and Object Code (PFO). When expecting incoming funds, look for and claim those funds on the Deposits and Receipts Manager system from the Oracle Financials home page, Navigator menu.

For more information, please refer to the Learn About: Deposits and Receipts Manager system page. For help with claiming funds, submit a support request.

Accounts and Sub-Accounts: 

Separate bank accounts or sub-accounts may be used to separate a department's receipt activity. Separate accounts are most useful for electronic receipts such as wire transfers and ACH. Payments are sent to bank account numbers specific to each department. Cash received in these accounts flows through to Stanford's central bank account and is invested by the Office of the Treasurer (OOT). Departments can view a daily record of the activity in the account or sub-account by accessing the online bank reporting system. A minimum of 15 electronic receipts per month is required to justify opening a separate bank account or sub-account. Departments requesting bank accounts or sub-accounts are responsible for performing a monthly reconciliation.

Stanford Procurement Services offers a variety of purchasing and payment methods to best support the university’s mission as efficiently as possible while ensuring that the university meets its compliance requirements. ACH Payments and wire transfers can be requested to pay for goods or services where applicable through Expense Requests or iProcurement.

If departments need to return ACH or wire receipts to the original sender, they should utilize the Expense Request System (ERS) to process a Non-PO Payment. 

Last Updated: Feb 23, 2024