Wire Transfers
Workflow Template
Wire Transfers
This workflow template illustrates the setup, approval and execution of electronic wire transfers to receiving banks and financial institutions for individual customers. Purchase and download this template in PDF, Visio (VSD), PowerPoint (PPT) formats. You can customize it to fit your own organization, or simply use it to better understand the Wire Transfers process.
Related KPIs : Cycle Time: Wire Transfers (All Outgoing), Unit Cost: Wire Transfer, Wire Transfer Error Rate (All Outgoing)
What is Wire Transfers?
The Wire Transfers process involves the setup, approval and execution of electronic wire transfers to receiving banks and financial institutions for individual customers. This process includes customer request notification, transfer of funds authorization and verification, evaluation of sufficient funds (if there are insufficient funds, the customer and the customer service representative must be notified), wire payment processing (if the wire is going to a new destination, all relevant information must be verified), wire rejection (if necessary due to incorrect instructions or information), fund distribution and the acceptance or denial of funds by the receiving bank. Ensure that the customer is informed of all rejected wire transfers and the reasons behind them.
Download a Sample Wire Transfers
Frequently Asked Questions
Q: How do you create your Workflow Templates?
A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years analyzing operations at hundreds of leading companies worldwide, documenting thousands of business processes at precise levels of detail. We’ve anonymized this data—drawn from millions of dollars’ worth of consulting assignments—and have made it available to you in easy-to-use templates at affordable OpsDog prices.
Q: What can a Workflow Template do for me?
A: Boost productivity, efficiency, and service levels! Broken business processes—marked by manual workarounds, downtime, and errors—are all too common. Many businesses write off this waste as “the cost of doing business.” But you know better than that! Simply select the OpsDog Workflow Template that best fits your situation, tweak it to your liking, and then use it to train employees, identify process improvements, inform an IT project, or re-design a workflow. That’s a lot of power in your hands, cheap!
Q: What’s in the box when I buy one?
A: Three handy versions, all in one zipped file. It’s yours to download immediately upon purchase, and includes your chosen Workflow Template in PDF format, plus Microsoft PowerPoint (which you can edit), and Visio (which you can also edit).
Q: Your download-able templates look great. But I need something custom. Can you help?
A: Heck yes. Our analysts would be happy to provide you with a more detailed Workflow Template than what we offer for instant download. We can also develop an entirely new, customized Workflow Template to fit your business; we specialize in this stuff and would love to help you! Simply email us (info@opsdog.com) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.
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