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Vendor Payment Methods

Bank Checks

Payments to vendors via paper check are normally mailed to the vendor’s remit to address as indicated on the vendor invoice. Requests for checks to be held for pickup must be requested by using the Special Handling Request section of the vendor payment request form. Any request to have a check reissued must be requested through the Disbursements office using the Stop Payment Request Form (this process can only be completed by the department not the vendor).

Bank Wire Transfers

A wire transfer of funds will only be utilized in payment of an obligation of William & Mary and/or VIMS when the situation requires immediate good funds to settle a transaction or it is the most inexpensive mechanism that can be utilized.  The university Comptroller shall reserve the right to approve all wire transfer requests. Bank wires are used primarily for the direct transfer of currency to the vendor’s bank (usually foreign.) For international payments, a currency converter should be used to convert funds as of the date the payment is keyed into Banner.  This will ensure the correct exchange rate is used.  Wire or foreign draft disbursements will be processed using the existing accounts payable voucher and wire disbursement process. Departments requesting wire disbursements will be charged a $40 transaction fee.

To complete the wire process:

  1. All vendor payments to be paid by a wire transfer are subject to the 30 days prompt pay rules unless there is appropriate justification, a contract or a financial incentive.
  2. The department will prepare a Vendor Payment Request Form according to established guidelines, will attach all necessary supporting documentation (wires are not eVA exempt) and ensure the vendor has been fully setup in Banner (the wire payment will be recorded in Banner). 
  3. The Department will fill out the Wire Transfer Request Form providing all the pertinent banking information for the vendor. Proof of the banking information should also be attached to the Vendor Payment Request Form for verification.
  4. The Department will complete a Journal Voucher (JV Form) to charge the department index the $40 wire transaction fee. This JV form will be attached to the voucher to charge the department the wire fee.  Debit the department index and account 712420 and Credit index 1Z2014, account 712990.  

If a VIMS Department

VIMS Departments must reimburse WM for the $40 transaction fee.  Departments will complete a set of forms:  MMM and MM1 (both found in the Data Control website).

  1. MMM – Department will credit WM banner index 1Z2014 & account 712990
  2. MM1 – Department will debit their department banner index & account 712420
  1. The accounts payable office will assess the wire due date and submit to Disbursements for processing accordingly. Please allow at least 7 business days for the wire to be processed.
Foreign Draft

Foreign drafts are written orders (similar to a check) by which one party (the University) instructs another party (University's bank) to pay a specified sum to a third party payee (vendor) in a foreign currency. A foreign draft should only be requested if a wire transfer is not possible. To request a foreign draft check, please check “Foreign Draft Request” on the Vendor Payment Request Form.

Direct Deposits

For Staff, Faculty, and Students who are also employees of the university, payments will be processed using Direct Deposit.  The funds will be deposited directly into the employee’s primary payroll direct deposit accounts.

For Staff, Faculty and Students checks without direct deposit accounts and for Students who are not also employees; checks will no longer be sent to campus addresses or temporary addresses.  All checks will be mailed to the home address on record.

To verify if a Staff, Faculty or Student has a direct deposit setup please use the Financial Operations Search Tool. Under Vendor Search there is an “Enrolled in Direct Deposit” indicator.

Wells Fargo e-Payables Program (electronic payments)
E-Payables Enrollment Benefits:
  • Expedited receipt of Cash
    Vendors will receive payment within a couple of days of payment processing
  • Increased Efficiency
    Vendors will no longer receive paper checks nor paper remittance information.  Process is entirely electronic.  There are no physical check to deposit in the bank or wait for it to clear.
  • Less exception handling
    Eliminates common problems of lost/re-issued checks, unpredictability of payment receipt and all the additional research for a lost or misplaced check.
  • Increased security
    Less paper, no sharing bank account information leads to a more secure process
E-Payables Enrollment Programs:

Single Use Commercial Credit Card (VISA)
When choosing Commercial Card Payments:

  • Must have a merchant number and payment card terminal to process transactions
  • Card transactions limits cannot be supported at this time.
  • Card is funded for the total payment amount of invoice/invoices being paid
  • William & Mary does not pay processing fee

Automated Clearing House (ACH)
When choosing ACH Payments:

  • Must have a US bank account, US Address and a US federal tax id or social security number
  • Provide your banking information
  • Must have email address to receive remittance information

Please send an email to to enroll in the Wells Fargo e-Payables Program.

To verify if a vendor is signed up for the e-payables program please use the Financial Operations Search Tool. Under Vendor Search there is an “E-payables Payment Method” indicator. The PPD or CTX indicator means the vendor is enrolled in ACH and the CCR indicator means the vendor is enrolled in the Commercial Card program.

Small Purchase Credit Cards (SPCC)

The SPCC program is designed to streamline the procurement and payment of small dollar goods and services.  The SPCC should be used for all allowable business transactions under $5,000 where a credit card is accepted.  If a vendor does not accept credit cards or charges a fee to process credit card transactions; the vendor may receive a bank check.  It is the responsibility of the department on campus to provide the Accounts Payable office with this information. The Small Purchase Charge Card (SPCC) Program is managed by the Procurement office. Please refer to the Procurement website for the rules and regulations regarding the SPCC program.