This webinar will cover the basic elements of wire transfers and how they differ from other types of payment channels (e.g. check, ACH and card).
We will cover UCC4A issues in depth; including all the key points that should be covered in financial institutions' legal agreements and contracts.
Covered Topics:
- Wire Transfer definitions, key terms and types of wire transfer networks
- Characteristics and statistics that differentiate wire transfers from other payment channels
- Distinguishing aspects and overview of FedWire, CHIPS, and SWIFT
- Regulatory landscape for wire transfer including:
- Fed Operating Circulars 5, 6, and 7
- UCC4A
- Reg S, Reg E, Reg J Subpart B, and others
- Risks involved with processing wire transfers
Who Should Attend?
Bank operations staff, compliance officers, audit staff, staff with responsibility for wire transfer operations, sales staff and senior management.