Remote Wires

Remote Wires

Initiate domestic wire transfers quickly and securely with First Hope's Remote Wires in the convenience of your own office!

Summary

Remote Wires is a service that allows companies to send wire transfers electronically though Business Online Banking.


Customer Benefits:


  • Reduced number of trips to Bank
  • More timely transfer of funds
  • Improved end of month/quarter processing
  • Greater employee productivity
  • Reduced time spent on wire preparation and presentment to the financial institution
  • Faster access to information and improved decision-making capabilities
  • On-site research capability
FAQ

Why should my company initiate wires this way?

You can now eliminate time-consuming wire form preparation and trips to the bank, improving the speed and efficiency of initiating wire transfers.

How does it work?

You will be able to enter each of your wire transfers into business online banking using your personal computer. The files are then transmitted to the bank's service bureau for item processing through the Federal Reserve System. The system also has the capability to initiate wires on a recurring basis without the need to re-enter the information.

When will my funds be available?

As with traditional paper form wires, electronic wires submitted by the wire cut off time will be transmitted the same day. Credit to the recipient account will be based upon the procedures of the recipient's bank.

Can I enter wires for recipients outside the local area?

Absolutely! This is one of the best features of Remote WIRES. Wire transactions can be entered to credit any bank account with a US routing number and valid account number.

Is the wire delivered by the same process as my current paper wires? Will my recipient notice a difference?

The wires are processed through the same Federal Reserve Wire system as when you submit paper wire forms. Your recipient will see no difference in the credit to their account.

Is there a deadline for my wires to be transmitted on the same Business day?

Currently, the cutoff is 1:00 p.m. ET to enter the wire and complete the security verification. Wires entered or verified after this time may not be transmitted until the next business day. Wires entered after the cut off time will show a status of "Next Day." After the bank's end-of-day processing, the status will change to "Initiated" and the wire will be processed by the bank on the next business day.

How do I know if the bank received my wire?

The wire status will change from "initiated" to "Processed" once the bank has taken the option to process your wire.