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Wire Options (MTN Time) field group
Use this field group to indicate which options are available on your institution's website for company administrator remote users in regards to wire processing. These defaults are automatically applied to newly created users.
Options in this field group are set up according to Mountain Standard Time (MTN). Individual values for these fields can be set for specific users on the Internet and Phone Systems > User Profile screen.
This field group only appears on the Company tab. The fields in this field group are as follows:
Field |
Description |
Mnemonic: SIBHHM/SIEHHM |
Use these fields to indicate the Begin and Cutoff times for when your institution's website transfers wires for the day.
The Start time should be based on the Federal Reserve Bank's (FRB) cut-off times for wire transfers. Be sure to leave plenty of time to make the cutoff time for the day. For example, if the FRB's cutoff time is 6:30 PM Eastern Time, set the Begin Time field to be 4:00 PM (MTN), allowing the system an extra 30 minutes to transfer all the wires for the day.
The Cutoff time is determined by allowing enough time to process and send all wire transactions for a given day to the Federal Reserve Bank (FRB) before their cutoff time. Set the Cutoff time at least 30 minutes before the FRB's cutoff time. |
Test Available Balance for Wires
Mnemonic: SIWTAF |
Use this field to indicate whether company administrators are allowed to test for their company's available (not current) balances in deposit accounts before sending wire transfers through your institution's website. |
Mnemonic: SIDUWI |
Use this field to indicate whether two people are required to set up and authorize wire transactions for company users at your institution. |
Mnemonic: SIWBNK |
Use this field to indicate whether bank approval is required before company administrators can transfer wires from their account through your institution's website. If this field is marked and a company administrator sets up a wire transfer and submits it from your institution's website, a message is returned to them explaining that the wire will be processed after approval from the bank. |
Mnemonic: SIWWFE |
Use this field to indicate whether wire transfer fees will be waived for company remote users at your institution. |
Mnemonic: SIWUPL |
Use this field to indicate whether company administrators are allowed to upload wire files from your institution's website. |
Mnemonic: SIWUTR |
Mark this field to automatically transmit uploaded wire transfers for company remote users at your institution. |