Welcome to Wire Transfers On MB Web Express

Welcome to Wire Transfers
On MB Web Express
Please follow this reference guide to create and manage wire transfers on MB Web Express. You will find helpful
information for the following tasks:
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7.
Creating a domestic wire template for future use
Creating a foreign wire template for future use
Creating a wire transfer
Creating a template and transaction simultaneously
Approving and submitting templates and transactions
Modifying templates and transactions
Reporting
Definitions for Wire Transfers on MB Web Express:
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TEMPLATE – A template contains the wire instructions for a payee to be saved and used for repeated transactions in
the future.
TRANSACTION – A transaction is a set of wire instructions that is ready to be submitted for payment. Transactions can
be created from a template or a one-off set of instructions.
DOMESTIC VS. FOREIGN TRANSACTIONS – The wire module on MB Web Express can send wires in USD only.
Please note: Outgoing and Incoming wire details can be found in the Wire Report under Customer Reports (see page 10).
1. Creating a domestic wire template for future use
Log into MB Web Express. From the Payments & Transfers tab, choose Enhanced Wire System. The default tab in the wire module is
Create.
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From the Create tab, choose “Template” from the drop-down menu next to “FedWire.”
Click Continue.
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3.
Fill in your wire instructions:
a. Enter a Template Name. This will be your reference for the payment.
b. Select the Originator Account from which you’d like to pay.
c. The Originator Name and Address will auto-fill with your company name and address. Click Choose if you need to change the
information.
d. Optional: If you require an intermediary institution, click Choose under Receiving FI ID and enter the required information.
e. Under Beneficiary FI ID, click Choose to enter the receiving bank’s routing number and address.
i.
Enter the ABA# and click Verify. The bank name and address will populate.
ii.
Click Apply.
f. Enter the Beneficiary Account Number, Beneficiary Name, Beneficiary Address, and City, State, Zip (Note: if you do not know
the full street address of the beneficiary customer, enter the city and state in the Beneficiary Address line).
g. Optional: If you plan to send the same amount each time you use this wire template, enter the Amount. Otherwise, the field can be
left blank.
h. Optional: If you have additional information that should be included with your payment, enter it under Originator to Beneficiary. If
there is information that should be related to the receiving bank, enter it under FI to FI Information. If one line is not enough space to
include all of your required information, continue typing in the line below.
i. Click Save. You will be redirected to the Pending Items tab.
j. A second user must log in to approve the template for use (users cannot approve templates they have created). See page 7 for
directions.
*Note: An approved template is not an active wire. If you would like to send a wire using the information in the approved template, see page 6
for instructions.
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2. Creating a foreign wire template for future use
From the Payments & Transfers tab, choose Enhanced Wire System. The default tab in the wire module is Create.
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From the Create tab, choose “Template” from the drop-down menu next to “FedWire.”
Click Continue (see page 1 for a detailed view).
Fill in your wire instructions:
a. Follow steps a – c of the domestic wire template instructions on page 2.
Proceed to step b or c based on your correspondent bank requirements.
b.
For wires with a specific correspondent bank:
i.
Click Choose under Receiving FI ID.
ii.
Enter the ABA# of the correspondent bank and click Verify. Click Apply.
iii.
Click Choose under Beneficiary FI ID.
iv.
Under Manual Institution ID, select “SWIFT BIC.” Enter the SWIFT code of the beneficiary bank and the Institution Name and
Address. Click Apply.
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c.
For wires without a specific correspondent bank:
i.
Click Choose under Receiving FI ID.
ii.
Enter the ABA# for Standard Chartered Bank (026002561) and click Verify. Click Apply.
iii.
Click Choose under Intermediary FI ID.
iv.
Under Manual Institution ID, select “SWIFT BIC.” Enter the SWIFT code for Standard Chartered Bank (SCBLUS33) and
manually enter the Institution Name and Address.
Standard Chartered Bank
One Madison Avenue
New York, NY 10010
v.
Click Choose under Beneficiary FI ID.
vi.
Under Manual Institution ID, select “SWIFT BIC.” Enter the SWIFT code of the beneficiary bank and the Institution Name and
Address. Click Apply.
d. Follow steps f – j of the domestic wire template instructions on page 2.
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3. Creating a wire transfer
Wire transfers can be created on a one-off basis or they can be created from existing templates. Choose one-off wire transfers if you do not
need to save the wire instructions for future use, or choose one of your existing templates to create a wire from previously saved instructions.
One-off Wire Transfers
If the wire you need to send does not need to be saved for future use, choose this option. From the Create tab, select “One-off Transaction”
from the drop-down menu. Click Continue. Fill in your wire instructions on the form provided.
a.
b.
c.
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e.
f.
g.
h.
i.
Select the Originator Account from which you’d like to pay.
The Originator Name and Address will auto-fill with your company name and address. Click Choose if you need to change the
information.
Optional: If you require an intermediary institution, click Choose under Receiving FI ID and enter the required information.
Under Beneficiary FI ID, click Choose to enter the receiving bank’s routing number and address.
i.
Enter the ABA# and click Verify. The bank name and address will populate.
ii.
Click Apply.
Enter the Beneficiary Account Number, Beneficiary Name, Beneficiary Address, and City, State, Zip (Note: if you do not know
the full street address of the beneficiary customer, enter the city and state in the Beneficiary Address line).
Enter the Amount of your wire transfer.
Choose the Value Date of your transaction. Wires can be future-dated one (1) business day (the smart calendar will only display valid
processing dates).
Optional: If you have additional information that should be included with your payment, enter it under Originator to Beneficiary. If
there is information that should be related to the receiving bank, enter it under FI to FI Information.
Click Save. The transaction will be queued for approval on the Pending Items tab. See page 7 for instructions on approving and
submitting the wire.
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Wires from Existing Templates
If you need to send a wire using instructions you have already saved in a template, choose this option.
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From the Create tab, locate the template you’d like to use. Check the box to the left of the template.
Choose your Value Date. Wires can be future dated one day (the smart calendar will only display valid processing dates).
Enter the Amount of the wire.
Click Create. The transaction will be queued for approval by a second user on the Pending Items tab. See page 7 for instructions on
approving and submitting the wire.
If you’d like to view the template instructions before creating a wire transfer, follow these steps instead:
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From the Create tab, locate the template you’d like to use. Under the Action column, click Use.
Enter the Amount of the wire.
Choose your Value Date. Wires can be future dated on day (the smart calendar will only display valid processing dates).
Click Save. The transaction will be queued for approval by a second user on the Pending Items tab.
Please note: if you need to change any of the information already saved in the template, you will need to modify it first (see page 9 for details).
Doing this will require a second user to approve the new template information before a wire can be sent.
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4. Creating a template and transaction simultaneously
By choosing this option, the information you enter will be saved in a template for future use, but you will also be generating a transaction at the
same time.
From the Create tab, select “Transaction and Template” from the drop-down menu. Click Continue. You will follow the same directions to
create a template (page 2); however, you will also include an Amount and Value Date. After clicking Save, both the template and transaction
will be queued for approval on the Pending Items tab.
5. Approving and submitting templates and transactions
All wire templates and transactions require approval from a second user. In addition, users are required to submit transactions after they are
approved by another user.
Approving Templates and Transactions
The second user (approver) has two ways to approve templates and transactions: from the home page or from the wire module.
From the home page:
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From the home page, click Enhanced Wire System under the Approve tab.
Check the box next to the transaction or template you’d like to approve.
Click Approve.
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From the wire module:
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From the Enhanced Wire System, navigate to the Pending Items tab.
Locate the template or transaction you’d like to approve. Either:
a. Check the box next to the template or transaction and click Approve underneath; or
b. Click Approve under the Action column.
Once the template has been approved, no further action needs to be taken. The template can now be used via the Create tab to send new
wire transfers. Transactions now require submission by any user that has been given permission to do so.
Submitting Transactions
Once the transaction has been approved by a second user, the status of the transaction will be changed to “Awaiting Submission to Bank.”
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From the Enhanced Wire System, navigate to the Pending Items tab.
Locate the transaction you’d like to submit. Either:
a. Check the box next to the transaction and click Submit; or
b. Click Submit under the Action column.
You will be prompted to enter your Password, i.e. token password. On your token, press the gray button to reveal a 6-digit code and enter
it on the line provided. Click Verify. The transaction has now been sent to the bank for processing.
Please note: wire transfers can also be submitted from the home page. Please see “Approving templates and transactions” (page 7) for details.
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6. Modifying templates and transactions
Wire instructions can be modified in templates and in pending transactions.
To modify a template, click Modify under the Action column from the Create tab. To modify a pending transaction (transactions either
awaiting approval or awaiting submission), click Modify under the Action column from the Pending Items tab. The template or transaction
form will display.
Once the form is displayed, you can make any necessary modifications to the wire instructions. After you have made your changes, click Save.
Both templates and transactions will require re-approval by a second user.
7. Reporting
The Reporting tab in the wire module contains details on wire origination activity, including who has created, approved, or submitted an item.
The reporting function maintains 63 calendar days of activity.
From the Payments & Transfers tab, choose Enhanced Wire System. Click on the Reporting tab.
Template Report
The template report provides a list of all active and inactive templates. You can view template details from this list, including who created and
approved them.
Under the Reporting tab, choose Template Report.
To view the template details, click View under the Action column. Template details can also be exported in a .CSV file; click on Export to
open or save the file.
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Transaction Report
The transaction report provides a list of all pending and submitted wire transfers, including the reference number, amount, and value date. You
can also view the details of the payment.
From the Reporting tab, choose Transaction Report. Choose a Date Range for your report.
To view the transaction details, click View under the Action column. Transaction details can also be exported in a .CSV file; click on Export to
open or save the file.
Custom Reports
MB Web Express offers additional wire transfer reporting in the Custom Reports module, including outgoing and incoming wires. Wire activity
is available for 63 calendar days.
From the Reporting tab, highlight Custom Reports. From the drop-down menu that appears, choose either “Outgoing Wires,” “Incoming
Wires,” or “Wire Transfer Report” (the Wire Transfer Report includes both incoming and outgoing wire transfers).
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Choose the Account Numbers you want to include in your search by highlighting the account and clicking the arrow point right.
Choose your Date Range.
Click Submit. The report generated will provide a detailed list of all wire activity for the selected period. It will include account summary
and report summary details. To view subsequent pages, click the blue arrow at the top of the report window to move between them.
----------------------------------------------------------------------------------------------------------------------------------------------------------For questions on Wire Transfers, please contact MB Treasury Management Services at 847.653.2259 option 1, or via email at
[email protected]
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