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Texas Tech University System 
1901 University Avenue, Suite 501
Box 41098
Lubbock, TX  79409-1098

Phone: 806.742.1700

Fax: 806.742.0717

8 a.m. - 5:00 p.m. Central, Monday - Friday

International Wires, Drafts, or iACH

All requests for international payments should be submitted to Accounts Payable, following the procedures identified in Operating Policy and Procedure (OP) 72.11. International payments can be made by wire transfer, draft, or international ACH (iACH).

Required Payment Information

In addition to invoice processing requirements identified in OP 72.11, international payments to foreign vendors must include complete information, as follows:

Following receipt of the invoice, Accounts Payable will input the payment information into the authorized global payment provider's web portal in order to initiate the transaction approval process.

Bank Drafts

Some vendors require payment by bank draft. A bank draft is "a type of check where the payment is guaranteed to be available by issuing bank. Typically, banks will review the bank draft requester's account to see if sufficient funds are available for the check to clear. Once it has been confirmed that sufficient funds are available, the bank effectively sets aside the funds from the [entity's] account to be given out when the bank draft is used" (Source: http://www.investopedia.com/terms/b/bank_draft.asp).

A bank draft can be purchased in the currency of the beneficiary’s choice (not U.S. dollars). The draft will be drawn on a bank in the destination country. Please let Treasury & Cash Management know if the draft needs to be returned to the originating department for mailing to the beneficiary. Otherwise, the draft will be sent directly to the beneficiary.

Settlement Timeframe

Treasury & Cash Management allows 14 business days for international items to settle. If the beneficiary claims “non-receipt” of funds, please contact Treasury & Cash Management at wire.transfers@ttu.edu or 806.742.1700, to begin an investigation process.

International payments differ from domestic wires in several significant ways:

Prohibited Payments

The U.S. government subjects certain countries to sanctions, which means the TTU System is prohibited from sending money to these regions. View the current list of sanctioned countries.

Seek advice from General Counsel if the payment:

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