![]() An Office of the Treasurer staff member is the initiator for most electronic funds transfers.Ī funds transfer with the receiving bank located outside the U.S.Ī banking service in which payments or deposits are collected by the bank at a postal or drop box, and then processed by a special department in the bank.Ī commitment to pay a specific sum of money, most commonly in the form of a check or draft. ![]() The individual responsible for communicating funds transfer information to the financial institution. The bank responsible for sending the transfer. The system facilitates transfers amongst all University Ledger accounts as well as incoming and outgoing wire and ACH transfers. The Kuali Financial System is the internal bookkeeping system for Indiana University. The Federal Family Educational Loan Program is a government program that provides loans for higher education expenses. The same-day value electronic funds transfer system operated in the U.S. government that plays a central role in monetary policy, domestic payments systems, and the regulation of financial institutions. The Financial Data Retrieval System is an Indiana University database and report generating system, containing information from the KFS.įor Benefit Of is used in electronic funds transfers to notate a second beneficiary or to designate a contact person or organization.įor Further Credit is used in electronic funds transfers to notate a second beneficiary.Īn independent agency of the U.S. The process of encoding electronic transaction information, to allow secure transmission of data over the Internet.Ī tracking number given to a wire transfer, to identify it and to assist in research. The movement of funds by non-paper means (i.e., electronically) usually through a payment system such as the ACH network or Fedline. Any earnings credit above the total fees for a month is forfeited. It is solely used to offset account analysis fees. The earnings credit is not deposited to the account as interest earned. The interest rate is typically tied to government issued securities. Items placed in the drop box will be retrieved by the department and then be mailed to a designated Indiana University lockbox operation or accounts receivable processing location.Īn interest rate on collected balances in a commercial account using account analysis. Drawee Bank - The bank on which the electronic transfer is drawn, the payor's bank.Ī drop box is similar to a bank night depository box. ![]() Use of drawdowns centralizes transaction decisions and cash flow to a single bank. or the correspondent bank is located in the U.S.Ī transaction method that allows a customer to authorize one bank to wire in funds from a second bank. These documents can be used to generate either a check or an electronic funds transfer.Ī funds transfer with the receiving bank located in the U.S. The bank that accepts incoming paper or electronic funds and credits it to a beneficiary bank account.Ī type of KFS document used solely to request a transfer of funds to a recipient outside the University. Common custodial funds are petty cash funds, change funds, and revolving funds. Currency Code ListĪ designated sum of money granted to an individual or a department for purposes that cannot be achieved through normal procedures. Vice Chancellor for Finance and Administration or their delegate.Ī financial institution that regularly performs services for other banks.Ī three letter code representing the currency of a particular country. Provides interface to Indiana University’s Bursar system for billing student accounts. The individual or entity receiving the funds transfer. Bank Codes - Three letter codes used to identify banks used by the University.Automated Clearing House (ACH) System - A domestic electronic funds transfer system.An earnings credit is typically offered to offset the monthly fees on the account. All official Indiana University accounts at financial institutions are named “Trustees of Indiana University”.Ī banking service for business customers that provides a finely detailed statement of all activity related to the account. Account Name - The actual name of the individual or entity on the bank account.This applies to transfers only within the U.S. ![]()
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