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Rich Moldenhauer
Flagship Bank Minnesota

 
 
Wire Transfer Policy
Contributed by:Manager‚ Marketing
Asset size: Bank with between $250m - $500m
Location: Midwest
Description: This is a sample Wire Transfer Policy, including domestic incoming and outgoing, and foreign incoming and outgoing.

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MORE PEER CONTRIBUTED DOCUMENTS:

63 Documents 58 Answers 40 Exam Watches 8 Vendor Reviews

Wire Transfer Policy & Procedures
Asset size: with between $250m - $500m
Description: This Wire Transfer Policy specifies bank policy & procedures to ensure that proper controls are in place in order to mitigate risks associated with the wire transfer function. This document details authorizations, guidelines when receiving wire transfer requests, required information & retention, as well as procedures for incoming and outgoing wire transfer requests. You may also be interested in our Outgoing Wire Transfer Request Form and Wire Transfer Agreement documents.
Wire Transfer Policy
Asset size: with under $250m
Description: Wire Transfer Board approved policy.
Wire Transfer Policy
Asset size: with between $500m - $1b
Description: Peoples Bank policy is to ensure consistent Wire Transfer procedures throughout the bank and ensure the following objectives: • Maximize customer convenience and service • Maximize employee efficiency • Minimize risks • Minimize processing costs


RELATED QUESTIONS AND ANSWERS:
Q
Wire Transfer Policy & Risk Assessments
Asked by: Back Office/Deposit Operations
Asset size: Bank with
Location:FL

I am interested in hearing from my peers regarding how robust is their Wire Transfer Policy? Have you included any language regarding the FCPA (Foreign Corrupt Practices Act)

If so I may be interested in purchasing a Wire Transfer Policy that includes this feature as well as any Wire Transfer Risk Assessment.
A
Answered by:Manager, ‚ Back Office/Deposit Operations
Asset size: Bank with between $500m - $1b
Location: FL

I would add language in your wire agreement and on wire form to indicate the client's com...
Q
Wire transfer controls
Asked by: VP,‚ Audit
Asset size: Bank with
Location:NC

What controls do you have in place for wire transfers? Who has authority to create and authorize wires? Does each department/branch have the ability to create and authorize wires or is the approval limited to back office?
A
Answered by:Manager, ‚ Technology
Asset size: Bank with between $250m - $500m
Location: NC

Wire Transfer policy ...


RELATED EXAM EXPERIENCES:
FDIC - IT | February 2012
exam experience posted by a Compliance/BSA/Legal from member with under $250m in assets
They did not ask any questions that caught me off guard
FRB - IT | March 2013
exam experience posted by a Manager‚ Compliance/BSA/Legal from member with between $250m - $500m in assets
For the Insurance Bond information, covering the Remote Deposit product.
OCC - BSA/AML | October 2011
exam experience posted by a COO‚ Compliance/BSA/Legal from member with under $250m in assets
How are you identifying NAICS codes for your RDC customers and whether or not they are in an approved industry

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Intrinium
GlobalPay (International Wires)
Travelex Worldwide Money

 
 

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