Cash Management and Wire Transfers

Cash Management is the daily process of directing the cash flows of the University to ensure the proper application of funds and the maximization of the return on cash assets, all within a controlled environment.

Cash payments by check and wire transfer:

Checks: Check requests are processed in Financial Services by the Accounts Payable staff. Budget stamped, signed invoices and/or check requests are required.

Wire transfers: Wire transfer requests should be sent to Dick Hoban, Assistant Treasurer, in Sadler Hall, room 305; PO Box 297041. E-mail wire requests are not accepted. Requests should be budget stamped and signed by the budget manager. Wire instructions are required to be included together with the approved wire request that include:

Domestic wires: the recipient’s name (account name), account number, ABA number, FFC instructions (if any). Please allow up to three (3) business days for domestic wires to be received.

International wires: the recipient’s name (account name), the name and location of the bank, IBAN account number, SWIFT code (the SWIFT code is REQUIRED for all international wires), FFC instructions (if any). Please allow up to five (5) business days for international wires to be received.

Questions: Questions regarding wire transfers and their processing should be directed to Dick Hoban, Assistant Treasurer, Extension 5108, e-mail: d.hoban@tcu.edu

Short-term investments:

Excess cash is maintained in a variety of interest-bearing accounts. The goal is to keep excess cash working until it is needed to pay expenses.

Short-term borrowing:

The University maintains credit relationships with several area banks in order to ensure that the necessary funds are available to meet cash demands throughout the University’s annual operations cycle.