Wire Transfers
A wire transfer is an electronic transfer of funds from one
financial institution to another and is generally originated
by a written or verbal request by a Capital Bank client or non-client.
Because a wire transfer represents the immediate transfer of
funds from the bank, it is the policy of Capital Bank to ensure
that all wire transfer requests are received only from individuals
who are authorized to withdraw funds from Capital Bank accounts
and to transfer funds only against collected funds as outlined
below.
Wire transfer requests will be made for non-clients only upon
the receipt of currency in the amount necessary to cover the
wire transfer request and the fee and only if the individual
provides the bank with all of the information required by the
Bank Secrecy Act.
The following deadlines have been established for processing
incoming and outgoing wire transfers:
- Outgoing Domestic Transfers: 2:30 p.m.
- Outgoing Foreign Transfers: 2 p.m.
- Incoming Transfers: 5 p.m.
On days on which the bank officially closes early, the deadline
for accepting outgoing wire transfer requests will be one hour
prior to the announced closing time.
Items that may be needed for sending and/or receiving a wire
transfer:
- Name and address of the sender
- Sender’s identification (i.e. driver’s
license or passport) and the corresponding number
- Sender’s social security number or tax ID number
- Amount and date of the payment order
- Payment instructions (including the receiver’s
name, address, financial institution and account number)
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