Incoming Payments to Rice
The following procedure applies for incoming payments to Rice and should be followed to ensure ACH, wire transfer and check payments are promptly credited to the department’s chart of account string.
Note: These procedures apply only for general AR billing and gifts, and do NOT apply for student- or grants-related billing.
Please complete the Incoming Payment form after an invoice has been sent to a customer and/or if you are anticipating a payment to Rice. The customer information, payment information, chart of account string, and invoice detail (for general AR only) will be collected to gather data and record the invoice in iO. Once a payment has been received by Rice, the indicated chart of account string will be credited for the amount.
Payment status can usually be verified by the Cashier’s Office, RCA (for grants-related payments), or the payer directly. Gift payments are processed to a clearing account monitored by Development and Alumni Relations, and are ultimately credited to the appropriate chart of account string.
Cash and Check Payments
Check payments should be made payable to Rice University. If payment is made payable to another payee, the payee can endorse the back of the check to Rice to deposit the payment. Cash and check payments should be brought to the Cashier’s Office daily, along with a completed TouchNet Web Deposit form. Additional instructions for completing a Web Deposit can be found here. To request training for and obtain access to TouchNet Web Deposits, please contact email@example.com.
Wire Transfers and ACH Payments
Wire transfers are typically initiated when a payer provides Rice University’s wire transfer instructions to his or her bank and agrees to pay required fees. Wire transfers may be made from banks all over the world. Non-US banks will require the Swift Code to be shown on the invoice and payment instructions. Payments should be requested in US Dollars whenever possible. Please note that payments made in a foreign currency may incur exchange fees that reduce the total amount collected.
ACH payments may require Rice to agree to accept the transaction by signing an authorization form provided by the payer. Rice only accepts ACH payments made from US banks in US Dollars.
Bank instructions are similar for both methods, but they are NOT identical. It is important to clarify the method of payment with the payer so appropriate banking information is used for the transaction.
IMPORTANT: ACH/Wire Transfer Instructions can be requested from the Treasurer’s Office. Please verify with the Treasurer's Office that the correct banking information is used.