Administration and Finance

Wire Transfers: International

For payments to be received outside the U.S. that cannot be made via checks, a wire transfer can be used. To do so, the payee and the name of the account to which funds are sent must be the same.

Nonresident aliens to be paid via wire for services performed –

To pay an individual

The payee’s tax status must be determined before payment can be issued via wire:

Complete a Payment to Individual Form (IND4000) and, if applicable, Independent Contractor Questionnaire (IND4000A).

To pay an entity

Complete a Business Payment Form (BUS5000).

In either case
  • Clearly write across the type of the form:

WIRE TRANSFER

  • Write the name – in words – of the currency to be received by payee:

Next to boxes “Total amount” and “Total amount requested”

  • Attach to the paper form a sheet indicating:
    • Name on the account receiving funds (= same name as payee)
    • Address of account receiving funds
    • Account number
    • IBAN number
    • Swift Code of bank where account is held.
    • Intermediary Bank name and Swift Code, if applicable
    • Amount and name of currency that will be received
    • Branch code/Sort Code if available (Required for African banks)
    • These countries:
      • Mexico – requires a CLABE number
      • Brazil – if sending Brazilian currency requires the recipient tax id, Bank Agency Code, and recipient’s telephone number.
      • Chile – requires a RUT ID number
  • Route request, as usual. Accounts Payable will arrange transmittal of funds.

Glossary

CLABE number – Clave Bancaria Estandarizada is the 18 digit standard for the numbering of bank accounts in Mexico.

IBAN number – International Bank Number is an alpha number with 15 – 31 digits.

RUT ID number – Rol Único Tributario number has 7 – 8 digits + a letter.

Swift Code –Is an international system of numbers assigned to banks handling international transactions with 8 – 11 alpha numeric characters.

January 11, 2012
Revised May 18, 2015