What you need to know:
Effective immediately, Workday will require a payee’s address when submitting a Miscellaneous Payment with Wire selected as the Payment Type. This is in response to the ISO 20022 standards that were announced earlier this year, which require beneficiary addresses when processing wire payments.
What was happening before?
While most payments require an address for other reasons (i.e. if the payment requires a tax form at year-end), Workday did not specifically require an address to be entered in the Miscellaneous Payee profile when processing a wire.
What’s changed?
Moving forward, payee address will be required for all wire payments submitted through a Miscellaneous Payment request, regardless of the payment amount or the taxability of the payment. When submitting a Miscellaneous Payment with Wire selected as the Payment Type, you will receive an error message from Workday if the payee’s address field is not complete. The request will not be able to be submitted until the address is entered in the payee profile.
What this means for you:
When requesting a wire through a Miscellaneous Payment request, departments will be responsible for collecting payee’s addresses and entering the information in their Miscellaneous Payee profile on Workday. Addresses must be complete and include the street address, unit number (if applicable), city, state, zip code, and country.
Providing this information upfront helps ensure compliance with international banking requirements, reduces the likelihood of payment delays or rejected wire transfers, minimizes follow-up requests, and supports successful and timely payment processing.
Questions?
Please review the Miscellaneous Payments page or contact Procurement Customer Service at pcshelp@uw.edu for questions.