Wire Transfers (Outgoing)

An outgoing wire transfer is a transfer of funds to a vendor which we typically use when (1) money must be transferred immediately, (2) large amounts are transferred and it is imperative to be able to confirm receipt, and (3) international payments are made. The process of outgoing wire transfers involves the department initating the wire, Campus Accounting Services, and Oregon State Treasury.

Use the following steps to complete the form: Outgoing Wire Transfer

  1. Circle Domestic or International Wire
  2. Fill in the date you want the transfer to occur
  3. Fill in the Amount of Transfer
  4. Beneficiary:  This is the name of the person or entity that will receive the funds
  5. Beneficiary Account # and IBAN #.  This is the bank account number or their IBAN# (international bank account number).  This number, IBAN#,  has to be included for all European wires
  6. Beneficiary street address
  7. Beneficiary city/state/country
  8. Beneficiary Bank name
  9. Beneficiary Bank ABA routing # for domestic wires or SWIFT/BIC# for foreign wires
  10. Beneficiary Bank street address
  11. Beneficiary Bank city/state/country
  12. Beneficiary Contact Name and phone number
  13. Message for the Beneficiary (indicate payment is from PSU and include at least invoice number or similar information)
  14. Obtain Department Approver signature, date, fill in phone number (We only accept signatures of the approvers listed on PSU Signature Authorization form) For wire transfer that will be charged to a grant index code, it must be first approved by an authorized DRA before submitting the paperwork to FAST-CAS
  15. Institution Accounting Information: type in the PSU department name, index or Fund/org/Program and account code being charged
  16. Attach the original invoice or similar documentation, backup documents showing that banking information on the wire transfer request form was from same vendor, and copy of Contract (if required)
  17. Forward the completed wire transfer form and above documents to FAST-CAS
  18. FAST-CAS will:
    • Check for Bank information supplied by vendor (if not on invoice)
    • Check for Copy of contract or PO if contract is required
    • Complete OST Request for Wire Transfer form
    • Obtain UFS Approval Signatures (requires 2) 
    • Date the OST form with contact phone information
    • Fax to Oregon Treasury
    • Once money is taken out of our account and documented on bank statement, FAST-CAS takes it to Cashiers who records in Banner the debit to index and account code.
    • Note:  Transaction is seen by departments in FGIBDST, not Vendor History

For wire transfers that need to be sent out on the same day, OST must receive the faxed requests before 10:30am.  After this time, they will be sent out the next business day.  In addition, OST requires 24-hour notice (from the 10:30 a.m. deadline) on all transfers between $1 million and $5 million; 48-hour advance notice is required on all transfers in excess of $5 million.  Please note that services for wire transfers are not available on bank closures days.


The IBAN is a series of alphanumeric characters which uniquely identify an account held at a bank.  It can be up to 34 characters long and contains a two-character country code, two check digits, and the basic bank account number.  The basic bank account number identifies the bank as well as the account holder.  In printed format, spaces are inserted for readability (i.e. DE16 5003 3300 0532 0130 00).

The BIC is an 8-character code also known as the SWIFT address and is uniquely assigned to banks.  Branch codes can be added to the BIC to further designate which branch of a bank should receive the SWIFT message.  When a branch code is added, the BIC has 11 characters (i.e. BARCGB22 or DEUTDE3B400).

The ABA routing number is a unique, 9 digit identifying transit number assigned to each bank.