IMPORTANT INFORMATION CONCERNING WIRE TRANSFERS
Wire Transfer Requirements and Instructions
The Travel Rule, put forth jointly by the Federal Reserve and the Department of Treasury, requires all financial institutions to include and send the following information within the originating transmittal order:
· The name of the transmitter
· The account number of the transmitter
· The address of the transmitter
· The identity of the transmitter’s financial institution
· The amount of the transmittal order
· The execution date of the transmittal order, and
· The identity of the recipient’s financial institution;
and, if the wire transmittal is received:
· The name of the recipient,
· The address of the recipient,
· The account number of the recipient, and
· Any other specific identifier of the recipient.*
As a wire transfer originator, you will be expected to supply Executive National Bank with the aforementioned listed when you originate a wire transfer. Failure to provide and/or receive complete information on a wire transmittal order may result in wire transfer processing delays.
Should you have any questions, please call your Executive National Bank account officer at 305-274-8382.
*Please note that “other specific identifier” information may include, but is not limited to a business file number, the address of real estate being purchase, etc.