The Swift Code is an international code used in transmitting international wires. It assists the sending bank in identifying the location of the receiving financial institution. This code is necessary for all international wire transfers. This code may be obtained from the receiving bank.What is an ABA number?
The ABA number, also referred to as the bank routing number, is a nine-digit sequence used for identifying domestic financial institutions. The ABA number must be known to complete a domestic electronic transfer. This number may be obtained from the receiving financial institution.Is the ABA number the same for an ACH or wire?
It can be but not necessarily. Be certain that when you inquire about the ACH that you specify as to whether you intend to send the transfer via an ACH or wire.When will my domestic wire be received?
A domestic wire will be posted to the receiving bank account the same day as it is sent.When will my ACH transfer be received?
An ACH (Automated Clearing House) will be posted to the receiving bank account the following business day that it is initiated.When will my international wire be received?
Typically the funds will be credited to the receiving account within five business days. It is dependent on the country and the bank receiving the funds. International banking systems are different from the US and there can be subtle differences.My client is stating nonreceipt of funds. What should I do?
Many times the amount sent is not necessary the amount credited to the receiving bank account. The recipient will usually ask their bank if a specific amount has been received, since bank fees have been applied to the incoming amount, the actual credit will be less. The recipient should approach their bank with dates of when the funds could have been received and also to state that the funds were sent from our bank, The Northern Trust Company located in Chicago, IL USA from Indiana University. If the funds still cannot be located, the IU department should contact this office so that we may pursue this matter through our bank. Keep in mind that there may be a research charge assessed by our bank and this charge will be passed to the department.When should I request that a Wire model be set up?
If more than 2 payment requests to the same recipient occur in a one year period, the payment will be considered recurring. All recurring payments must be assigned a unique model number. To request a new Wire model number for a recurring payment, complete the Wire Model Request Form. To request an ACH payment contact Charles Sinex in Accounts Payable.My vendor wants to pay electronically. What is the banking information for IU to receive payment by ACH or wire?
Whether you are sending money to Indiana University via ACH or Wire transfer please use the following banking information:What is Indiana University’s IBAN (International Bank Account Number)?
Bank Name: The Northern Trust Company Bank Routing/ABA: 071000152 Swift Code: CNORUS44 Bank Address: 801 S. Canal Street C%S Chicago, IL 60603 Account Number: 69426* Account Name: Indiana University
* Please note that this account is designated for incoming money only. No attempts to debit the account will be honored.
ACH payments must be sent in CCD or CCD+ format.
In order for your payment to be posted, the following MUST be included:
Any questions regarding the claiming of funds should be directed to David DeForest (812) 855-0709.
- Designate which Indiana University Campus the payment is for by using a two letter abbreviation (BL-Bloomington, IN-Indianapolis, EA-Richmond, KO-Kokomo, NW-Gary, SB-South Bend, SE-New Albany, CO-Columbus)
- University department and/or contact name
- University general ledger (g/l) number, if known
- Invoice number (for vendors paying for IU services or materials)
- Grant number & researcher name (companies & foundations supplying grants for research)
- Student name & University identification number (for student tuition payments)
Indiana University does not have an IBAN number. An IBAN is not required to send money to IU from a foreign country. The University receives wire transfers on a regular basis from all over the globe using the standard bank account number and routing information. As long as a party desiring to send Indiana University funds has the bank account name, bank account number, and Swift Code this should be sufficient with regard to sending an ACH or wire transmission to the University. Specific instructions for sending funds to the University electronically can be found here.A vendor has sent my department a form asking for our banking information. What should I do with it?
Fax the form to Treasury (812-855-3863) or contact Petra Bragt. In many cases these forms require a signature from our bank. Your department should complete your information on the form and then send to Treasury. We will add the banking detail, obtain the necessary signatures and return the completed form to you.