Financial Services

Financial Services

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Payment Processing Timelines

  • Paycycles are run by Financial Services on Tuesdays and Thursdays. These include: cheque, EFT, ACH, and Visa Payables payments
  • Wire transfer payments are processed once a week, on Wednesdays. Wire transfer requests must be received by 4:00 PM on Monday to be processed on Wednesday
  • Vendor payment terms vary by vendor based on the payment method selected. Further details can be found under the Payment Terms subheading on the Accounts Payable webpage
  • All other payments, including Employee Reimbursements and Travel Expense claims, will be processed within 15 business days of the receipt of the documentation in the Financial Services office
  • Claims being paid by Electronic Funds Transfer (EFT) will require an additional 2-3 business days for the bank(s) to process the transfer