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Wires and Drafts: Overview
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Summary: You can request a wire when your department needs to transfer funds electronically into a payee's bank account that is outside the United States. To request a check in a foreign currency, you can request a draft. Read the information below to learn more about wires and drafts. Wires are more efficient than drafts and are preferred when possible. |
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In the wrong place? Review the Direct Deposit Overview for information on sending U.S. dollars to a bank in the United States.
Request a wire in U.S. dollars when:
- An electronic transfer of funds in U.S. currency is required
AND
- The payee's banking institution is outside the United States
Request a wire in foreign currency when:
- An electronic transfer of funds in foreign currency is required
AND
- The payee's banking institution is outside the United States
Request a draft in foreign currency when:
Requesting a wire or draft in euros: If the desired currency belongs to a country participating in the Economic Monetary Union (EMU), the wire or draft must be requested in euros. For drafts, you must also specify the country. Review the euro section of Foreign Currency Requirements (PDF) to see which countries participate in the EMU.
Need an expert? Contact Wanda Procopio, (858) 534-8519.
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Last reviewed/updated on Nov. 14, 2007 (see more info)
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