Due to the large volume of wire transfers and unexpected system limitations, it was our mission to identify effective approaches for implementing a safe, ubiquitous, faster payment process in iO. To do this, we have developed and implemented effective criteria for processing USD Wire Transfer to Foreign Countries.
PLEASE NOTE: When creating a purchase order to be paid by wire transfer in foreign currency, you must first complete the currency conversion, and then create the requisition/purchase order for the amount in USD. DO NOT CREATE THE PO FOR THE AMOUNT IN FOREIGN CURRENCY. This will result in errors in your fund balances and dashboards.
See below for more information for currency conversion and wire transfer instructions.
- The Universal Currency Converter
- OANDA (w/historic data to 1990)
- Global Wire Payment Guide