CX Wire Procedure Business Rules

Inbound/ Email Client questions and confirmation of cut-off time

When does the wire need to be completed?

What type of wire do they need: A Regular Wire Transfer or a Closeout Wire Transfer?

Provide the client with the cut-off times and fees

When contacted via phone or email, CX provides the client with the wire form and wire agreement form through a secure message

CX must follow Email Procedurebelow when a wire request comes through email

Reply to the client’s email with Instructions Sent through OLB – Wire Request email template

Send a secure message using the Wire Request pipeline and provide wire documents and instructions

See the email procedure below for the full process

If the client does not have OLB proceed with an email message

CX must send the client a new secure message if the wire request comes in through any other pipeline that is not the Wire Request pipeline through WebAdmin

See the email procedure below for the full process

Verify the account used for the wire transfer

Verify funds are available

Double-check pending transactions

Restrictions/holds need to be cleared to move forward

CX team needs to MODIFY the Wire Agreement form with the client’s information

A color copy of a valid government-issued I.D. is needed to complete all wire requests

Quontic Bank wire fees

Closeout Wire: No Fee (receiving bank may charge a fee, ACH is a free option)

Domestic Wire Fee: $25.00

Foreign Wire Fee: $35.00

Incoming Wire Fee: No Fee

Quontic Wire cut-off times:

Foreign – cut-off time is at 12:00 PM EST

Domestic – cut-off time is at 3:00 PM EST

Incoming Foreign/Domestic Quontic Bank Information Needed

Address

3105 Broadway, Astoria, NY, 11106

Phone Number

800-908-6600

ABA/ Routing Number – needed for Domestic incoming wires

021473030

Swift Code – needed for foreign incoming wires

NORHUS33

Closeout Wire Transfer Form

NO signature

NO wire agreement form required

Complete their own Closeout Wire Transfer Form

Agent must NOT fill out the form for the client

Following documents are required if the funding account is NOT the originating funding account

Bank Statement and Color copy of your valid government-issued I.D.

Closeout wire must be sent to one of the account owners’ account

Closeout wire can NOT be sent to another recipient

Regular Wire Transfer FormWet Signature is Required- If unable to print and sign, ask DBO to send a DocuSign form to complete (last resort)

A Wire Transfer Agreement is needed for all first-time wire transfers

Account List must include liquid accounts, DO NOT include CD account

The Wire Department saves these forms; see step 13 to view saved Client Agreement Forms

Joint account:

If only Joint Signer A signs the form, then only Joint Signer A can do wire transfers on the account.

If the second joint signer did not sign that form; that joint signer needs to sign a new agreement

NOT Mandatory to have both signatures on the wire agreement form

These forms do not expire

DBO calls the client before sending the wire to verify the information on the wire

NO modifications once DBO verifies the wire with the client

The client can ask to RECALL the wire; however, there is no guarantee of retrieving the funds

BIG PICTURE: DBO uses the ID and wet signature to verify the customer

Wire Transfer time frame

Domestic Wire: Appear in the receiving account the same day or the following business day

Depending on the receiving bank

Foreign Wire:  These wires can take 1- 15 business days to show on the foreign account.

Dependent upon the policies and procedures of the receiving bank