Treasury Operations

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Treasury Operations provides cash management services, manages University investments, administers the P-Card program and oversees credit card merchant services. Department responsibilities include monitoring daily cash needs, initiating and approving electronic bank transactions, tracking and issuing debt service payments, coordinating incoming and outgoing international exchange transactions, investing excess funds, assisting P-Card holders, managing the PCI DSS compliance program, and serving as liaison to all financial partners.

Cash Management Services refers to the daily monitoring of the University’s bank account activity and balances. The review of daily cash needs provides a planning mechanism for the use of funds required specifically for accounts payable, student refunds, payroll, investing, and debt service.

Electronic Funds Transfers

Northern Illinois University primarily uses Automated Clearing House (ACH) and some wires to complete domestic (within the US) transfers.

Outgoing Funds:
Requests for outgoing electronic transfers must be initiated through Accounts Payable Services.

Incoming Funds:
Departments should notify Treasury Operations via email (Treasury@niu.edu) of all funds they expect to receive. 

Incoming International Wires: 
Northern Illinois University has partnered with Flywire to offer an innovative and streamlined way for students and customers to make international payments. Flywire’s mission is to save international students, their families, and international commercial customers money that would otherwise be lost on bank fees and unfavorable foreign exchange rates. In most cases, payments can be made in a payee’s local currency, and the foreign exchange rates are excellent compared to traditional banks. In addition, payments will be posted to university accounts faster, and users will be notified by email when the transfer is complete.

International Student Payments: 
Please see the Bursar's website for instructions.

International Non-Student Payments: 
To send an international wire to Northern Illinois University for payment other than student tuition and fees, please contact Treasury Operations at Treasury@niu.edu or 815-753-6242.

Outgoing International Wires: 
Requests for outgoing, international wire transfers must be initiated through Accounts Payable Services. Payments can be made in most foreign currencies. Suppliers should provide the university with invoices in their local currency. Foreign currency international wires have lower fees and settle faster than USD transactions.

For questions regarding outgoing, international wires, please contact Treasury Operations at Treasury@niu.edu or 815-753-6242.

Treasury Operations manages, records, and reports on University investments in accordance with the University Investment and Cash Management Policy and the Illinois Public Funds Investment Act.

NIU Merchant Services facilitates payment card acceptance and assists DoIT in managing the university’s Payment Card Industry Data Security Standards (PCI DSS) compliance program.

To learn more about becoming a credit card merchant, please contact Treasury Operations at Treasury@niu.edu or 815-753-5750.

Merchant Request Form (PDF)

PCI DSS is a set of 12 requirements for safely processing credit card transactions. It applies to all merchants who process, transmit and/or store credit card data. Treasury Operations and DoIT facilitate the University PCI DSS Compliance Program. Compliance includes, but is not limited to, ongoing training, documented procedures, annual merchant self-assessments, and external quarterly scans.

NIU has partnered with Trustwave to provide online self-assessment questionnaires.

The Payment Card Merchant Security Policy can be found on the DoIT website.

Program Policy

The NIU Procurement Card and Declining Balance Card (PC/DBC) program enables authorized employees to use the card for authorized University expenses only. Program policies and procedures apply to all NIU employees participating in the card program.

PC/DBC Business Procedure (PDF)


PC/DBC Resources

Chip and PIN Credit Cards

Forms

Online Training

Contact Us

Treasury Operations
Lowden Hall 204
Fax: 815-753-1839
Treasury@niu.edu

Business Procedure Manual