Corporate Cash Management FAQs
The easiest way to determine if a payment you requested has been completed is to look in SAP. If you see the wire fee has been posted then the payment request has been received and submitted, to the bank, for payment.
An ACH payment clears through the same channels as a check (Automated Clearing House) and takes a couple of days to process. This allows time for edits and recalls should an error be discovered. A wire is an instantaneous payment from one bank account to another. With a wire, once the money arrives in the beneficiary account it can't be recalled by Duke and requires assistance from the recipient.
Please contact University Cashiering at cashier@duke.edu and provide the amount received, date received and general ledger posting instructions. It is very helpful to provide these instructions to University Cashiering prior to receiving the funds, and the Cashiering staff will look out for your department’s incoming funds.
For payments being made to a vendor in another country the below information needs to be included:
- Beneficiary account name
- Beneficiary account number or IBAN
- Full beneficiary address including street address, city, country, postal code.
- SWIFT/BIC Code
- Currency to be sent (i.e USD, CAD, GBP, EUR, AUD, INR, etc.)
- Reference information, like invoice or PO number
- Beneficiary phone number
*Please note that some countries may have additional requirements that are not listed above.