EFT Database Requistion Instructions
The Electronic Funds Transfer (EFT) Requisition (Form EFT03B) must be used to request the release of any funds paid by electronic transfer. Payments made by EFT may be made due to one or more the following:
Legal or contractual requirements
Expedited payment required
Guaranteed payment delivery requested
Most cost-effective payment procedure
The LUC Treasurer’s Office will make the final decision as to the necessity of an electronic payment instead of a check. An EFT Database must have been established using form EFT03.
An EFT Database transfer form (EFT03) should have been filled out at least two weeks prior to the first request of payment.
All sections of the form should be completed. Signature of the Requestor is necessary. Attached to the form will be documentation supporting the transfer amount.
The Requestor should forward the form to the Treasurer’s Office for initiation. All requests must be received by noon the day of the initiation.