Domestic Wire Transfer
Catalyst Corporate offers credit unions a Domestic Wire Transfer Service with built in security and exceptional convenience.
Features & Benefits:
- Wires are submitted using the secure online member portal, TranZact, or by phone.
- Security measures include token-protected initiation and approval.
- Dual control minimizes credit unions' risk when sending high-dollar outgoing wires.
- Callback verification thresholds increase protection.
- A built-in ABA check improves accuracy.
- An automated, optional OFAC filter is available to support regulatory compliance.
- Credit unions can establish preauthorized and template wire transfer options to streamline recurring transfer processing.
- Credit unions can track incoming and outgoing wire activity online in TranZact and/or with the optional email Wire Notification Service.
- The optional BSA File Service automates the transfer of domestic and international wire files so that credit unions have faster more efficient access to wire data for conducting Bank Secrecy Act reviews.
- Summary and detail reporting is available for 200 days to help credit unions monitor wire transfer activity.