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There are essentially two classes of foreign electronic payments. International wires are the fastest option available but come with higher fees for both ºÚÁϳԹÏÍø±¬ÍøÕ¾ and the payee. International wires generally clear in 1-2 business days, e.g. an order placed on Wednesday will likely be credited to the payee on Friday.

In many countries, ºÚÁϳԹÏÍø±¬ÍøÕ¾ can alternatively send the payment in the payee’s local payment network, essentially the US equivalent of an ACH or direct deposit. This is typically the first-choice method when available for relatively small amounts as it’s the least cost option for both ºÚÁϳԹÏÍø±¬ÍøÕ¾ and the payee. Clearing times can be up to one week, depending on the country. Most often it takes one business day more to clear than a wire.

The following information is needed to place an order for either type of international electronic payment (* indicates required information):

• Bank Name*
• Bank Address
• Bank BIC/SWIFT code*
• Routing or Sort Code (required for low-cost transfer option to Canada, Australia, New Zealand, United Kingdom)
• Intermediary Bank Information (if needed)
• Account Name*
• Account Address*
• Account Number* (Must be in IBAN format for EU countries)
• CLABE for accounts domiciled in Mexico

Please refer to and for step by step guidance on submitting Supplier Requests and Supplier Invoice Requests in Workday.  To ensure your foreign payment request is processed correctly, please give special attention to:

• Setting the Handling Code in the Supplier Invoice Request to Payment Instructions: WIRE the funds. This is the mechanism that puts your request in the workflow for a wire payment.
• Confirm payment details with the payee. Whether wire payment request is for a new supplier or issuing subsequent payments to an existing one, verifying current information is critical.
• Use the Supplier Invoice Request Internal Memo and Comment fields to note characteristics of your specific request. Everything is helpful, from the obvious: Invoice is in Euros, to detailed considerations: Invoice due date is 60 days but should be paid before…

Requesting a foreign wire follows the same Workday process for Supplier Requests and Supplier Invoice Requests. Bank instructions should be included on the Supplier Invoice Request, not with the Supplier Request. Bank instructions for repeat payees do not need to be included for each subsequent request, but please reference the invoice request when the bank details were submitted in the Internal Memo field of the Supplier Invoice Request.

The other business process considerations and budgeting requirements for a foreign payment are the same as any other Supplier Invoice Request. Requests must be properly documented and contain accurate accounting information. The Supplier Invoice Request will follow the Workday approval processes determined by the accounting information provided for the payment.

ºÚÁϳԹÏÍø±¬ÍøÕ¾ College is not exempt from foreign taxation. Charges for Value Added Tax (VAT), for example, are valid and must be paid.

As stated in the  instructions, please use USD as the transaction currency and do not calculate an exchange on a foreign currency transaction. Supplier Invoice Requests denominated in a foreign currency are submitted at the face value stated on the invoice, with USD as the selected currency. The exchange will be determined at the final order settlement and the Controller’s Office will record the final exchange in the transaction as the settled USD amount.

Please do refer to the foreign currency requested for the payment in the Internal Memo or Comment field of the request. These fields are just for communication purposes and do not display in the posted transaction.

Reimbursement payments to foreign payees are made in the currency in which they were incurred, e.g. taxi fares paid in Euros will be reimbursed in Euros, assuming that is the payee's domestic currency.

By request, reimbursements of US dollar denominated expenses to foreign payees may be converted to the payee's domestic currency using the rate in effect on the day the expense was incurred. If a reimbursement contains both USD and foreign currency, the payee will be reimbursed in their local currency unless otherwise requested as a USD transfer.

As mentioned in the introductory section, unless delivered currency is specified by contract or invoice, the Controller’s Office balances consideration for transaction costs for ºÚÁϳԹÏÍø±¬ÍøÕ¾ and recipients in addition to exchange rate values when determining how to best send requested fixed USD amount requests to foreign recipients, e.g. scholarships, stipends, and honorariums.

A Foreign Currency Draft is a check drawn in the requested currency on a bank in the same country as the recipient. For example, a vendor in France submits a bill denominated in Euros. A currency draft to this vendor would be payable in Euros and issued via a French bank. Due to the cost and the long handling times for a paper draft, this is a last resort option for foreign payees unable to provide timely bank instructions.