Wire Transfers - Columbia Bank

Wire Transfers - Columbia Bank
Wire Transfers
The Wire Transfer service provides secure wire transfer capabilities with a streamlined, easy-to-use web
browser interface. Depending on your configuration, wire transfer features allow you to:
• Create wires using a variety of templates that simplify the data entry process.
• Review and manage wires using the Transaction List screen.
• Correct wire errors using the Revision List screen.
• Review released wires using the History List screen.
• Approve wire templates.
Basic Terms and Features
The definitions below describe features and terms for Wire.
Approvals
Depending on the security options set up by Columbia Bank, wires may require up to two approvals before
they can be released to the bank.
Foreign Currency Wires
Either the Amount (always USD) or Sending Currency Amount can be entered into the application. The
exchange rate is always expressed as USD/Foreign Currency.
Holiday Table
Wire transactions are not processed on bank holidays. The Holiday Table provides a list of holiday dates when
Columbia Bank, does not process transactions. Though you can create and release transactions on these
dates, you cannot assign effective dates for dates listed in the Holiday Table.
Queuing
Once you enter a wire, you move (queue) it to the Transaction List, where it is approved and reviewed by
other users before it is released to Columbia Bank for processing.
Templates
A feature used to store payment data for wire transfers you make on a repetitive basis so that you can
later apply that information when initiating a wire with the same core instructions. Templates are either
“repetitive” or “semi-repetitive”. For semi-repetitive templates, users can enter optional freeform text fields
at wire entry.
Token Authentication
You are required to use Token Authentication at wire release. You will be prompted for additional information
when you release a wire from the transaction list. You will be prompted for your one time password - also
known as your token passcode.
Wire Applications
The data entry forms users use to create wire and templates. Form types include repetitive, semi-repetitive,
and non-repetitive. Applications are typically categorized by payment method. Wire History
A list of prior dated transactions.
Wire Repair
A wire that does not pass any level of approval or release can be routed for correction to the Revision List.
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Wire Templates
The Wire Templates setup function allows you to save wire data entry information in templates that you can
use to create wire transactions. A template stores information and reuses it each time a you send a wire. Wire
templates can be set up for repetitive and semi-repetitive wire applications.
Steps to Set up Wire Templates
1
Click Setup on the Service Menu and then click Manage Wire Templates.
Note: If there are templates requiring approval the Approve Templates list will display first. To access
the Template list, click the Wire Templates tab.
2
The Wire Template list screen shows all of
the Active templates. To search for a specific
template, or for all templates associated with
a particular Application Type, enter the criteria
and click Search.
3
To create a new template, click Add Template.
The Add Template screen displays.
4
Select the Application Type from the Application
dropdown and click Continue >. The Template
Settings screen displays.
5
Enter the information in the data fields and click
Save or click Add Another Template to create
a new template for the selected Application.
When you click Save, a confirmation message
displays.
6
Return to the Wire Template list screen to view
the new template entry. You can change the
Amount Limit for the template to set it lower
than the maximum allowed or you can click the
Template ID to reopen the Template Settings
screen and edit entries.
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Single Wires
Single wires are single payment transactions, created individually. Single wires are typically used when you
are wiring funds to a single beneficiary. Single wires can be set up to use non-repetitive, semi-repetitive, and
repetitive wire applications.
Steps to Initiate a Single Wire
1
Click Single Wire on the Function menu and
then click the wire application you want to use.
2
Complete the wire entry fields and click Queue
to send the wire to the Transaction List screen.
3
Click Transaction List on the Function menu to view the wire. To release the wire for processing,
select the wire and click Release. Token Authentication is required.
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After the Wire End of Day cut off time, click Wire History on the Function menu to view statuses as
the wire goes through processing.
Reviewing and Approving Wires
If a wire requires approval, it cannot be released until the approval has been made. Once it is approved the
wire status changes and it can be released.
Steps to Review and Approve Wires
1
Once wires have been queued, review them from the Transaction List screen prior to approving or
releasing them to Columbia Bank for processing. Click Approve to approve wires from the Transaction
List.
2
You can also approve wires from the Detail
Summary screens by clicking the Amount link
for the batch or wire.
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On the Detail Summary screen, click Approve
or Approve 2 depending on your level of
approval.
Approve wires in a batch on the Batch Transaction Summary
screen.
Revising Wires
If wire information is not correct, you can revise (repair) the wire on the Revision list.
Steps to Revise a Wire
1
On the Transaction List screen, first select the
wire you wish to revise then click Revise to
send it to the Revision List for repair.
2
3
Navigate to the Revision List by selecting Wire
Repair from the top menu.
Click the Amount hyperlink for the wire to display the Wire Detail screen.
4
Make changes in the detail screen and click
Queue to re-queue the wire.
Important Note: If you are changing the
Template ID on the Revision List, you must
change the Template ID, and then click Save
before the new template information displays.
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Releasing Wires
To release a wire, select the check box next to the wire in the Transaction List, and then click Release. You
will be required to use Token Authentication at wire release. The system will prompt you for your one time
password - also known as your token passcode.
Review wire status to confirm that the wires were released.
Wire Statuses
Entered — Initial status when a wire is created.
Approved — First-level approval completed. This only displays if [Your FI Name]requires first-level approvals.
Approved2 — Second-level approval completed. This only displays if [Your FI Name]requires second-level
approvals.
Released — Wire was sent to bank wire processing system.
Pending Release — Wire is in process of being sent to bank for processing.
Acknowledged — Processing system sent acknowledgement. This status may not appear in forms-based
systems.
Processed — Network Reference No. has been received. This status may not appear in forms-based
systems. For Fed-wires (domestic), this indicates the Fed has successfully received the message.
Rejected — Bank processing system (or network) sent rejection.
Voided — Unexecuted wire/batch has been voided by the system after the end of day. This status appears on
the Wire History List only.
Viewing Wire History and Running Wire Reports
You can run reports on the wires and batches that are displayed on the Transaction List. Use the History List
screen to review wire transactions at the end of the day and verify if the system accepted transactions. At
the end-of-day time set by your financial institution, wires are moved from the Transaction List to the History
List screen.
Steps to View a Totals Report
Totals Reports provide a quick summary of the wires you originate on the Wire Transaction List Screen or the
Wire Transaction Summary Screen at any point during the day. All wires and batches on the Wire Transaction
List screen or Wire Transaction Summary screen appear in the report regardless of their status.
1
On the Transaction List click the Totals Report button.
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The Totals Report displays the status and total of all wires on the Transaction List. To print the report
click Print.
Steps to View a Summary Report
The Summary Report displays summary data for all wire transactions selected by a user on the Transaction
List screen.
Note: You can also run the Summary Report from the Wire History screen.
1
On the Transaction List select the check box beside the transactions for which you want to view a
report and then click Summary Report.
2
The Summary Report displays summary information for the wire or batch you selected. To print the
report click Print.
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Steps to View a Detail Report
The Detail Report provides the detailed information shown on the wire detail screen for each individual wire
transaction in a batch and/or a list of selected single wires.
1
On the Transaction List select the check box beside the transactions for which you want to view a
report and then click Detail Report.
2
The Detail Report displays detail information
for the wire or batch you selected. To print the
report click Print.
Steps to View a Wire Template Report
The Wire Template Detail Report provides detailed information for the information entered in each field of a
template.
1
Click Setup on the Service Menu and then click
Manage Wire Templates. The Manage Wire
Templates screen displays.
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Select the check box beside the template you
would like to include in the report and then click
Run Template Report.
The Wire Template Detail Report displays the
template information. To print the report, click
Print.
Steps to View Wire History
The Wire History screen provides an easy way to track wire history by separating the current business day’s
work from the previous day’s work. Wires remain on the History List screen until the end of the retention
period.
1
Navigate to the Wire History screen by
selecting Wire History from the top menu.
2
Enter your search criteria and click Search to display the list of wires you want to view.
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The search results display on the screen.
To view Wire Details: Click the Amount link to display the Wire Detail or History Summary List.
To generate a report: Select a wire and click Report to display the History Summary Report.
a
The Wire History Summary List displays summary data for each individual wire in a batch. To view the
wire detail click the Amount.
b
The Wire History Summary Report provides a summary of all the wires that have been processed.
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