Wire Terms and Features

Transcription

1 The Wire Transfer service provides secure wire transfer capabilities that allow: Creation of a variety of wire templates that simplifies the data entry process Enter wire instructions via wire templates or wire import Review and edit wire instructions using the Wire Transaction List screen Wire Terms and Features The definitions below describe features and terms for the wire transfers functionality. Approvals In addition to the required minimum of at least one approval, you can include up to two (2) additional approvals before wires are sent. Dynamic (i.e. tiered) approvals are also offered. Batches Groups of individual transactions with the same assigned wire application and value date. Queue Once a wire has been entered, you can queue (or move) it to the Transaction List, where an authorized approver(s) reviews, approves, and/or releases it for processing. Templates A feature used to store payment data, or wire instructions, for wire transfers that you send on a repetitive basis. Token Authentication First Republic requires Token Authentication for all wire transfers at the time of wire release. You will be prompted for a unique security code when a wire is released for processing from the Transaction List. Value Date The date the wire is scheduled to be made or processed. This date must be a valid banking business day and not a holiday or weekend date. Wire Applications The data entry forms used to create wires and/or wire templates include the following form types: Wire Application Acronym Description Non Repetitive Fed NEF Free-form Domestic Wire Non Repetitive Fed Intl NFI Free-form International Wire Semi Repetitive Fed SEF Domestic Wire Template Semi Repetitive Fed Intl SFI International Wire Template 1

2 Table of Contents Managing Wire Templates.3 Creating Domestic Wire Templates Creating International Wire Templates Approval Process for Wire Templates...8 Creating Wire Groups....9 Initiating Single Wires Freeform Freeform Domestic Wires Freeform International Wires...12 Initiating Single Wires Templates..13 Creating Batch Wires Batch Wires Freeform Batch Wires Templates Batch Wires Wire Groups Processing Batch Wires Wire Transactions List.19 Wire Repair Wire History

3 Wire Templates 1. Click Wire Transfers from the navigation bar on the left. 2. Click Manage Wire Templates from the top menu bar. 3. Click Add Template. 4. Select either Semi Repetitive Fed (domestic) or Semi Repetitive Fed Intl (international) to create the appropriate type of wire template. 3

4 Wire Templates Domestic 4

5 Wire Templates Domestic 1. Template ID Name of the wire template (16 characters max, no spaces allowed). Note: this option cannot be changed after the wire template has been created. 2. Description Description of the wire template (35 characters max). 3. Debit Account The wire s funding account. 4. Receiving Bank ID The ABA routing number of the Receiving Bank.* 5. Receiving Bank Name The name of the Receiving Bank. 6. Beneficiary Bank ID The ABA routing number of the Beneficiary Bank.* 7. Beneficiary Bank Name The name of the Beneficiary Bank. 8. Beneficiary Account The account number of the Beneficiary. 9. Beneficiary Name The name of the Beneficiary that corresponds to the Beneficiary account. 10. Reference to Beneficiary Optional: Memo line with 16 characters max; information not sent with wire. 11. OBI (Originator to Beneficiary Information) Optional: Payment related information. Note: 35 characters max, lines need to be contiguous.* 12. BBI (Bank to Bank Information) Optional: Further instructions to the Beneficiary Bank.* 13. Click Add to save current instructions and add another; or Save to save current instructions. *4 The available Lookup button can retrieve bank information and validate the ABA number entered. This is also true for the next line Receiving Bank Name. *6 The Beneficiary Bank ID/Name fields are available if the wire instructions contain two banks required for the wire transfer. If the wire instructions contain one bank, then use the Receiving Bank fields only. *11 The OBI fields will be sent with the payment and is visible to the Beneficiary. *12 The BBI fields will not be sent with the payment and will not be visible to the Beneficiary. 5

6 Wire Templates International 6

7 Wire Templates International 1. Template ID Name of the wire template (16 characters max, no spaces allowed). Note: this option cannot be changed after the wire template has been created. 2. Description Description of the wire template (35 characters max). 3. Debit Account The wire s funding account. 4. Receiving Bank ID The ABA routing number of the US intermediary Receiving Bank. 5. Receiving Bank Name The name of the US intermediary Receiving Bank. 6. Intermediary Bank ID Type Determines the type of identifier for a second intermediary bank.* 7. Intermediary Bank ID Routing code or other identifier of the second intermediary bank. (I.e. if Swift BIC is selected in Step #6, then a swift code must be entered in this field.) 8. Intermediary Bank Name Name of the second intermediary bank. 9. Find Correspondent Look up a receiving bank (US intermediary bank). 10. Beneficiary Bank ID Type Determines the type of identifier for the final Beneficiary Bank. 11. Beneficiary Bank ID Routing code or other identifier of the final Beneficiary Bank. (Refer to Step #7). 12. Beneficiary Bank Name Name of the final Beneficiary Bank. 13. Find Correspondent Look up a receiving bank (US intermediary bank). 14. Beneficiary Account The account number of the Beneficiary. 15. Beneficiary Name The name of the Beneficiary that corresponds to the Beneficiary account. 16. Reference to Beneficiary Optional: Memo line with 16 characters max; information not sent with wire. 17. OBI (Originator to Beneficiary Information) Optional: Payment related information. Note: 35 characters max, lines need to be contiguous. 18. BBI (Bank to Bank Information) Optional: Further instructions to the Beneficiary Bank. 19. Click Add to save current instructions and add another; or Save to save current instructions. *6 Not all international wires will require three (3) banks; most will only require the U.S. intermediary receiving bank (in Corporate Online, called the Receiving Bank) and the final Beneficiary Bank. 7

8 Wire Templates Approval Process If approvals have been turned on for the company profile, there will be an Approve Templates tab: 1. Select the template(s) that require action. 2. Optional: Enter the maximum dollar amount the template can be processed for. 3. Click Approve to approve the wire template for use. 4. Click Reject to discard the wire template. 5. Click Run Template Report to review wire template detailed instructions. 6. Click Save Amount Limits to save the custom limits entered for the wire template(s). Once the wire templates have been approved, they can be used under Single Wires, Batch Wires, and Wire Groups. 8

9 Wire Templates Wire Groups From the list of wire templates saved, you can create a group of templates using the same wire application: 1. Click Wire Transfers from the navigation bar to the left. 2. Click Manage Wire Templates 3. Click Wire Groups. 4. Click Add Group to create a new wire group. 5. Click the pull down menu to select domestic (Semi Repetitive Fed) or international (Semi Repetitive Fed Intl) wire templates. 6. Click on the templates to be added to the wire group. 7. Click the appropriate arrow button to add the selected templates into this wire group. 8. Enter a Name for the group and a Description for this wire group. 9. Click Save Group to save this wire group. 9

10 Single Wire Initiating a Wire 1. Click on Wire Transfers from the navigation bar on the left. 2. Click on Single Wire from the top menu bar. 3. Click on Non Repetitive Fed or Non Repetitive Fed Intl; refer to pages 4-7 on how to enter wire instructions. 4. Click on Semi Repetitive Fed or Semi Repetitive Fed Intl to select a wire template for initiation, refer to page 13 for next steps. *Wire Application Types: Non Repetitive Fed Non Repetitive Fed Intl For these wire application types: Free-form domestic wire Free-form International wire Wire instructions entered will not be saved onto the Corporate Online system. Please see the section Wire Templates Domestic/International on how to fill out the wire forms. Semi Repetitive Fed Domestic wire template Semi Repetitive Fed Intl International wire template For these wire application types: Saved wire instructions previously created and accessible under Single Wire for wire processing. Please see pages 3 for instructions on how to create wire templates. 10

11 Single Wire Free-form Domestic With the exception of the Template ID and Description, the domestic free-form single wire has the same format as the domestic template. Please refer to Wire Templates Domestic (page 4-5) for completing this wire form. Once the wire form has been completed, click Queue to send the wire to the Transaction List. 11

12 Single Wire Free-form International With the exception of the Template ID and Description, the international free-form single wire has the same format as the international template. Please refer to Wire Templates International (page 6-7) for completing this wire form. Once the wire form has been completed, click Queue to send the wire to the Transaction List. 12

13 Single Wire Wire Template: Domestic & International 1. Enter the Template ID in the field provided, or click Lookup to search. 2. Click on the wire template and OK to process. 3. Enter in the amount of the wire. 4. Select the value date of the wire. 5. Optional: Enter in a memo. Note: This information will not be sent with the wire. 6. Optional: Enter any payment related information. 7. Click Queue to send the wire to the Transaction List. 8. Click Detail to review the wire instructions in full detail. Depending on whether Semi Repetitive Fed or Fed Intl is selected, only those templates under the respective wire application will appear in the Lookup. 13

14 Batch Wires Batch wires allow multiple wires to be sent at the same time with the same value date. Both free-form or templates can be included in a batch. Wire groups can also be accessed under Batch Wires. 1. Click Batch Wire to access the Batch Wire List. 2. Click Add Batch Wires to create a new wire batch or to select a wire group. 3. Select Wire Application if creating an ad hoc batch by wire application.* 4. Select Wire Group if using a group of wire templates that was previously created.* *3 If this action is selected, please see Batch Wires Non/Semi Repetitive Fed & Fed Intl (pg ) for next steps. *4 If this action is selected, please see Batch Wires Wire Groups (pg. 17) for next steps. 14

15 Batch Wires Non Repetitive Fed & Fed Intl If Non Repetitive wire applications have been selected, the Value Date for the batch will be required first: Once the Value Date is selected, wire instructions can be entered. Please refer to pages 4-7 (Wire Templates Domestic / International) for completing the wire forms. 1. To move between the Non Repetitive wire instructions entered, use the following buttons: First, Previous, Next and Last 2. To add a new wire and create another, click Add. 3. To Save this wire, click Save. 4. To undo changes, click Reset. Once all wire instructions have been entered and the wire batch has been completed, please refer to Batch Wires Queuing the Batch (pg. 18) for next steps. 15

16 Batch Wires Semi Repetitive Fed & Fed Intl If Semi Repetitive wire applications have been selected, the appropriate wire templates will appear: 1. Select Semi Repetitive Fed or Semi Repetitive Fed Intl from the drop down menu. 2. Enter in the Template ID and/or Beneficiary Name to search for the appropriate wire templates; or: 3. Select the desired wire templates from the list displayed. 4. Click Save as Batch. 5. Select the value date of the wire batch. 6. Enter in the amounts for the selected wire templates. 7. Optional: Enter in any additional payment information. Note: by clicking the plus sign, additional fields will appear. 8. Click View Detail in order to view the details of the wire template. 9. Click Remove Template to delete the wire template from the batch. 10. Click Add Templates to add additional wire templates to the batch. 11. Click Save to save the wire batch information. Once all wire instructions have been entered and the wire batch is complete, please refer to Batch Wires Queuing the Batch (pg. 18) for next steps. 16

17 Batch Wires Wire Groups Select the wire group to be processed by clicking its group name (above). Next, all wire templates within the group will be listed (below): 1. Select the Value Date for the wire group. 2. Enter the amounts for each wire. 3. Enter any payment related information in the Reference column. 4. Click View Detail to review the full wire instructions. 5. Click Remove Template to remove the wire template from the group. 6. Click Add Templates to add additional wire templates to the group. 7. Click Save to save any changes. Once all wire instructions have been entered and the wire batch is complete, please refer to page 18 (Batch Wires Queuing the Batch) for next steps. 17

18 Batch Wires Queuing the Batch Once the wire batch/wire group is saved, go back to the Batch Wire List to review: 1. Select the wire batch to then: 2. Click Queue to Transaction List for approval and release. 3. Click Delete to delete the wire batch. 4. Click the batch amount to edit/review the details of the wire batch. 5. Click Add Batch Wires to create more wire batches or wire groups. 18

19 Wire Transaction List 1. Enter the search criteria if looking for a particular wire on the Transaction List. 2. Select the wire for the following next steps: 3. Available actions: Approve (1, 2, 3) and Release (with token) 4. Available actions: Revise (Edit), Delete, and Refresh 5. Available reports: Detail Report, Totals Report, Summary Report For export: Detail Export & Summary Export 6. Click the amount to review the wire details.* *If this is a wire batch, clicking the amount will allow for separate approvals for wires within the batch. Note: All stale dated wires will remain on the Wire Transaction List for five business days. Once action is taken on the wire, the value date will automatically be updated to the current business day. If no action is taken by the fifth business day, the wire will be voided and moved to Wire History after the cut-off time of 1:30pm PT. Wire Status Entered Approved Released Acknowledged Processed Definition Wire has been entered into the Corporate Online system. Wire has been Approved. Wire has been Released (with a token). Wire has been received by First Republic. Wire has been processed and sent by First Republic (Fed Ref number now available). **Cut-off time for Releasing Wires is 1:30pm PT** 19

20 Wire Repair If you have selected a wire to be revised, go to the Wire Repair List: 1. Check off the wire(s) that require editing/repair. 2. Click Revise. 3. Click Wire Repair from across the top menu bar to access the Wire Repair List. 4. Check off the wire to Delete the wire. 5. Click the amount to open the wire details for editing. 6. Once changes have been completed, click Queue to send the wire back to the Transaction List for approval. Note: Wires can no longer be revised once it has been released. 20

21 Wire History 1. Enter the search criteria if looking for a particular wire sent in the past 180 days. 2. Navigate to different pages to view all wires sent in the past 180 days. 3. Click on the Amount to review wire instruction details. 4. After selecting the desired wires, click Report to generate a History Summary Report. 5. After selecting the desired wires, click Export to generate a.csv file. Review all wire information: Wire # System generated number assigned to the wire transaction. Status The status of the wire. Application The abbreviated name for the type of wire application. Line ID If a template was used, the template ID will display here. Value Date The effective date of the wire. Batch No. System generated number for the wire batch created. Item Count Total count of wires in the batch. Customer Account No. The debiting account number from which funds are sent. Amount The total amount of the wire. Bene Name The name of the beneficiary receiving payment. Host Ref No. System generated trace number that First Republic has accepted the wire. Payment Network Ref. No. The Fed Reference number. Date/Time The date and time stamp of the last status change. ~ Contact your banker or our Online Banking Support team for more information or assistance at , option 2. It s a privilege to serve you. 3/