Bank Account Management and Fund Transfers  

University Treasury is the only department authorized to open and close bank accounts on behalf of the university. Accordingly, all receipts and disbursements affiliated with Rutgers, The State University of New Jersey, need to be routed through one of the bank accounts managed by Treasury and reconciled by University Accounting.  

Below are different types of funds that you might encounter in your business with Rutgers. If you have questions or need further information about university bank accounts, contact Treasury by phone (848-445-3500) or email (treasury@finance.rutgers.edu).  

Incoming Funds  

When you need to notify University Accounting of incoming electronic funds transfers (EFTs) such as wire transfer or automated clearing house (ACH) funds, please complete the "Notification of Incoming Electronic Funds Transfer" (NIEFT) form.

Outgoing Funds  

University Treasury-initiated EFTs are used for international payments or on an exception-only emergency basis. Domestic wire payments should be used in emergencies or when no other option is available. Otherwise, please work with Accounts Payable to remit payment to vendors.  

Departmental Wire Transfer Requests  

Please visit the University Procurement Services website for the wire transfer request process. 

ACH Debit Authorizations  

In the rare instances when vendors are authorized to initiate a direct ACH debit to the university’s bank accounts, Treasury requires notice no later than 8:30 a.m. ET on the day that the charge is to be made against the account. Treasury will verify that the amount being charged is correct by 10:00 a.m. the same day and will notify the bank to reject any incorrect amounts.