Wire Transfer Comparison Guide

Wire Transfer Comparison Guide
This document compares the functionality of wire transfers in
Cole Taylor Reporter to MB Web Express.
In Cole Taylor Reporter:
In MB Web Express:
The daily cut-off time for approving wire
transfers for bank processing is 3:45p.m. CT.
The daily cut-off time for submitting wire
transfers for bank processing is 4:00p.m. CT.
User authentication with a secure token device
is required to access the Wire module, create
wires, and approve wires for processing.
User authentication with a secure token
device is required to submit wires for
processing.
The default settlement date for wire transfers
is same-day. Wires can be future dated 30
calendar days.
The default settlement date for wire transfers
is same-day. Wires can be future dated
1 business day.
If you have any questions, please contact us at 1.847.653.7974.
1.888. i bank mb (1.888.422.6562)
www.mbfinancial.com
Member FDIC
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Wire Transfer Comparison Guide:
Managing Wire Templates
Cole Taylor Reporter: Wire Input
MB Web Express: Create
In Cole Taylor Reporter, new templates are
created on the Wire Input tab. Once templates
are created, they can be used to create wire
transfers. User authentication with a secure
token device is required to create new
templates.
In MB Web Express, new templates are created
on the Create tab. Once templates are created,
they can be used to create wire transfers.
All templates require approval by a second
user on the WT Template Approval tab.
Individual wire templates cannot be grouped
in the Wire Transfer module.
All templates require approval by a second
user on the Pending Items tab.
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Wire Transfer Comparison Guide:
Managing Wire Templates
Cole Taylor Reporter: Wire Templates
MB Web Express: Create
Wire templates are modified on the Wire
Templates tab. If a template is modified,
it requires re-approval by a second user.
User authentication with a secure token
device is required to modify templates.
Wire templates are modified on the Create
tab. If a template is modified, it requires
re-approval by a second user.
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Wire Transfer Comparison Guide:
Creating Wire Transfers from Templates
Cole Taylor Reporter: Wire Input
MB Web Express: Create
Once templates are created and approved, the
payment information can be used to create
wire transfers on the Create tab.
Wire transfer value dates default to same-day.
You can future date wires one business day.
Once templates are created and approved, the
payment information can be used to create
wire transfers on the Wire Input tab. User
authentication with a secure token device is
required to create a wire transfer.
Wire transfer value dates default to same-day.
You can future date wires 30 calendar days.
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Wire Transfer Comparison Guide:
Creating Free Form Wire Transfers
Cole Taylor Reporter: Wire Input
Free form wires can also be created on the
Wire Input tab. The payment information
entered on the form will not be saved for
future payments. User authentication is
required to create free form wire transfers.
MB Web Express: Create
Free form wires can also be created on the
Create tab. The payment information entered
on the form will not be saved for future
payments.
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Wire Transfer Comparison Guide:
Approving Wire Transfers
Cole Taylor Reporter: Wire Approval
MB Web Express: Pending Items
All wire transfers require approval and
submission by a second user. Wire transfers
are approved on the Wire Approval tab. User
authentication with a secure token device is
required to approve payments.
All wire transfers require approval by a second
user. Wire transfers are approved on the
Pending Items tab.
The daily cut-off time for wire processing is
3:45p.m. CT.
The daily cut-off time for wire processing is
4:00p.m. CT.
After approval, wire transfers require
submission on the Pending Items tab. User
authentication with a secure token device is
required to approve payments.
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Wire Transfer Comparison Guide:
Wire Reporting
Cole Taylor Reporter: Wire Report
MB Web Express: Reporting
Wire origination activity reports can be
generated on the Reporting tab. 63 days of
history is maintained. Reports can be viewed
online or exported to a CSV file.
Incoming wire activity is found on the
Incoming Wire Activity report in Custom
Reports.
Wire origination activity reports can be
generated on the Wire Report tab. 90 days of
history is maintained. Reports can be viewed
online or exported to a CSV file.
Incoming wire activity is also found on the
Wire Report tab.
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