| Wire Approvals | Wire Forms | Foriegn Wires / EFTPS | General | Fraud |
| 10 | 10 | 10 | 10 | 10 |
| 20 | 20 | 20 | 20 | 20 |
| 30 | 30 | 30 | 30 | 30 |
| 40 | 40 | 40 | 40 | 40 |
| 50 | 50 | 50 | 50 | 50 |
| Final Question | ||||
If your wire is over this amount a signature is required
If your wire is over this amount a signature is required
$50,000.00
How do you verify the routing number that is given to you?
How do you verify the routing number that is given to you?
Routing Number Verification link on Netinerest.
Do not use Google.
Are we able to send the wire form to the client via fax or email to obtain their signture?
Are we able to send the wire form to the client via fax or email to obtain their signture?
No. Clients must be in front of you requesting the wire or an exception may be made on a case by case basis.
Wire Approvals must be sent from the approving associate and the email must contain three identifiers. Name at least three of these acceptable identifiers.
Wire Approvals must be sent from the approving associate and the email must contain three identifiers. Name at least three of these acceptable identifiers.
Client Name
Account Number
Sequence Number
Wire Amount
What is required on wires over $50,000.00?
What is required on wires over $50,000.00?
Approving associate signature
Associate ID number
Approval Email
Who can approve a wire exception?
Can the exception approver also approve the wire if its over $50,000?
Who can approve a wire exception?
Can the exception approver also approve the wire if its over $50,000?
Any bank officer can approve an exception. They could not also approve the wire if it is over $50,000. Another associate with wire authority would have to approve the wire.
If a wire is being submitted after the 2pm cutoff time what additional steps need to be taken?
If a wire is being submitted after the 2pm cutoff time what additional steps need to be taken?
The word NEXT DAY needs to be written under the sequence number.
A physical address is required for all parties? The originator? Or the Beneficiary?
A physical address is required for all parties? The originator? Or the Beneficiary?
The Physical address is required for the orginator.
If they provide one for the beneficary, add it to the form.
The address is not required for the beneficiary.
Name three things that you should look for when scanning your wire form?
Name three things that you should look for when scanning your wire form?
Must be in PDF Format
Must have a barcode
Must be signed
Name two types of wires that cannot be processed next day and tell us why?
Name two types of wires that cannot be processed next day and tell us why?
Foriegn Currency wires - The rate changes daily.
EFTPS same day tax payment- these are used for clients that need thier tax payment credited the same day.
EFTPS Tax Payments - Do we charge a wire fee? How could the client pay for free?
EFTPS Tax Payments - Do we charge a wire fee? How could the client pay for free?
If they can wait till the next day, they can pay online for free.
We cannot waive the wire fee.
What is IBAN on a foriegn wire?
In what field does it go on the wire?
What is IBAN on a foriegn wire?
In what field does it go on the wire?
International Bank Account Number
Beneficiary account number field
If a foriegn currency wire is requested after the 2pm cutoff, by what time must it be submitted in order to be processed?
If a foriegn currency wire is requested after the 2pm cutoff, by what time must it be submitted in order to be processed?
A foriegn currency wire must be submitted by 3pm or it will be cancelled.
What is the outgoing international wire transfer fee?
What is the outgoing international wire transfer fee?
$75.00
Is there a fee for a returned wire? What is the fee and how can you help the client avoid the fee?
Is there a fee for a returned wire? What is the fee and how can you help the client avoid the fee?
We charge a $25.00 fee for all incoming wires, whether it is returned or a regular incoming wire.
Take the time to ensure it is formatted correctly. Returning bank may also charge additional fees.
If Xperience is unavailable are we able to still send wires?
If so how does this work?
If Xperience is unavailable are we able to still send wires?
If so how does this work?
Yes, we would use the Disaster Recovery Form
What is the cutoff time for wires, whether they are foriegn or domestic?
What is the cutoff time for wires, whether they are foriegn or domestic?
2pm
Which type of wire has to always be done on the disaster recovery form, even when Xperience is available.
Why?
Which type of wire has to always be done on the disaster recovery form, even when Xperience is available.
Why?
Associate Wires
Associate CIFs cannot be accessed via Xperience.
What type of wire cannot be done next day. It must be processed the same day?
Why?
What type of wire cannot be done next day. It must be processed the same day?
Why?
Foriegn Wires. The rate changes daily.
Which State is involved in an substanial amount of Fraud?
Which State is involved in an substanial amount of Fraud?
California
What is a swift code and where must it be input on a wire?
What is a swift code and where must it be input on a wire?
The Swift code is also called a BIC number, it is a type of international bank code that is used to identify banks.
The swift code goes in the Beneficiary FI (financial institution)Identifier field of a wire.
What makes wires a great risk to the bank and to our client?
What makes wires a great risk to the bank and to our client?
The speed of the transfer, the potential size and inability to recover funds
What are some questions you should ask clients when sending a wire to help protect them from fraud? Name 3
What are some questions you should ask clients when sending a wire to help protect them from fraud? Name 3
- What is the relationship between you and the beneficiary?This is a critical question, especially when the wire is going to a business.
- Have you ever sent them money before?
- How have you been communicating?
If you are doubting a wire is legitimate, what should you do?
If you are doubting a wire is legitimate, what should you do?
Proceed as normal and email TRFP and _Wiresgroup
Name at least three things that might be a red flag of a fraudlent wire?
Name at least three things that might be a red flag of a fraudlent wire?
New account
No previous relationship with person they are sending to
Purpose of the wire
The way they have been communicating.
If you are entering a wire into Xperience and you navigate away from the wire entry page without hitting submit what will happen to the wire?
If you are entering a wire into Xperience and you navigate away from the wire entry page without hitting submit what will happen to the wire?
It will not be processed. It is important to follow through to the submit button before navigating away from this page.
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