USES

The Electronic Funds Transfer (EFT) Requisition (Form EFT02A) 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.  All repetitive EFTs must have been established using Form EFT01.

INSTRUCTIONS

1. To request a repetitive EFT, an Electronic Funds Transfer Authorization Form EFT01 should have been filled out at least two weeks prior to the first request of payment. 
2. All sections of the form should be completed. Signature of the Budget Administrator is necessary. Attached to the form will be documentation supporting the transfer amount.
3. The Budget Administrator should forward the form to the LUC Treasurer’s Office for initiation. All requests must be received by noon the day before the transfer is required.