Requesting a Supplier Payment to be Paid Directly by Yale

TOC:

Supplier Setup

If a supplier has not previously received a payment directly through Yale Shared Services (Accounts Payable), they must first be set up as a supplier with Yale before any payment can be processed. This can add 7-10 business days to the transaction. Usually, when a request is made for payment, all of the information needed is included on the invoice. To be sure there are no delays, please send Katie Van Dermark the following details.

• Supplier Name:
• Supplier Category:
  • US Individual (US citizen or permanent resident)
  • Foreign Individual (Non-US citizen or permanent resident)
  • Foreign Business Entity
• Phone Number:
• Address:
  • Country:
  • Street Address:
  • City:
  • Postal Code:
• E-mail:
• Web Address (if applicable):

International Wire Payment

Yale will only wire payments internationally, not domestically. A direct deposit can be setup for domestic (US) accounts.

Wire Setup in Workday:

The wire setup will only need to be performed once, unless the supplier changes their bank account and then all of the items below will be required for a new setup.

NOTE: The name on the account the wire is to be sent to must match the name provided for the supplier setup.

• Three items are required to complete a wire setup, which is to be completed at the same as the supplier setup
  • A completed and signed IRS tax form (W-8BEN for a foreign individual or W-8BEN-E for a foreign business entity), which are good for three years after signing
    • W-8BEN (Rev. October 2021)
    • W-8BEN-E (Rev. October 2021)
  • Wiring Instructions for the account the payment should be wired to:
    • Bank Name
    • Bank Phone Number
    • Bank Address
      • Street
      • City
      • Country
      • Postal Code
    • Contact Name (if applicable)
      • Contact Phone Number
      • Contact Email
    • Account Type (Checking or Savings)
    • Bank Account Number
    • IBAN Number (required for Europe)
    • Swift Code
    • Bank Branch Code
    • Currency Type
  • Bank letterhead with wire instructions (example button below)

Wire Payment:

As stated above the wire setup will only be required once, as long as the supplier account information does not change. 

• Once the wire setup has been completed, two items are required for each wire payment request
  • An invoice needs to clearly state what services are being offered in exchange for payment. Invoices that only have statements such as “Services Rendered” will not be accepted
  • A completed and signed IRS tax form (W-8BEN for a foreign individual or W-8BEN-E for a foreign  business entity)
    • This form is good for three years from its signing, or the IRS issues a new version, so a new form will only be required once the old one has expired

Direct Deposit Into a US Account (Known at Yale as ACH/EFT):

Direct Deposit Setup in Workday:

A direct deposit (ACH/EFT) can be setup for suppliers who hold a U.S. bank account. Similar to the wire setup, the direct deposit setup only needs to be performed once.

• Two items are required for a direct deposit setup
  • Completed and signed ACH/EFT Supplier Enrollment Form (provide the information below to Katie Van Dermark and she will provide the form for the supplier's signature)
    • Financial Institution Name
    • Type of Account
      • Checking
      • Savings
      • Other:_____
    • Account Number
    • Routing Number
    • Type of Business
      • Non-Profit
      • Individual or Sole Proprietorship
      • Corporation
      • Partnership
      • Other (please specify):___________
  • Voided check or bank letter signed by a bank representative
    • If providing a voided check, it must be imprinted, which means it includes the name, address, account and routing numbers. No information can be handwritten
      • Unable to accept starter checks, deposit slips, or bank statements
    • If providing a bank letter it must include the Name of the Account, Routing Number, Account Number, and Type of Account. This letter must be typed, not handwritten, on bank letterhead, and signed by by a bank representative.

Direct Deposit Payment:

As stated above the direct deposit setup will only be required once, as long as the supplier account information does not change.

• Once the setup has been completed, one item is required for each direct deposit payment request
  • An invoice needs to clearly state what services are being offered in exchange for payment. Invoices that only have statements such as “Services Rendered” will not be accepted

Check Request

Just as with a wire or direct deposit payment, an invoice, which clearly states the reason for the payment is needed. The check will be mailed to the address provided during the supplier setup. A change of address will be required if the supplier needs the check to be sent to an address different from what was provided during the supplier setup.