Treasury Operations
Treasury Operations provides cash management services, manages university investments 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, 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 at 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 customers to make international payments. Flywire's mission is to save 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.
International Student Payments:
Please visit the Bursar's Make a Payment 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 815-753-6121.
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 815-753-6121.
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.
Accepting Payment Cards
Departments interested in accepting credit or debit card payments must contact Treasury Operations before purchasing equipment, signing vendor agreements, or accepting payments to ensure PCI DSS compliance and University approval.
To learn more about becoming a credit card merchant, please contact Treasury Operations at treasury@niu.edu or 815-753-6121.
Payment Card Industry Data Security Standard (PCI DSS) is a global security standard designed to protect payment card data. It applies to all University departments and merchants that process, transmit, or store payment card information.
Treasury Operations, in coordination with the Division of Information Technology (DoIT), administer NIU's PCI DSS Compliance Program. Merchant compliance includes, but is not limited to:
- Annual PCI DSS self-assessment questionnaires (SAQs)
- Required security awareness and PCI training
- Documented payment card handling procedures
- Quarterly external vulnerability scans, where applicable
- Ongoing compliance with University PCI DSS policies and procedures
NIU partners with SecurityMetrics to provide PCI DSS Self-Assessment Questionnaires (SAQs) and other compliance resources for eligible merchants.
The Payment Card Merchant Security Policy is available in the Policy Library.
Contact Us
Treasury Operations
treasury@niu.edu
