Wire Transfers Page 3 of 9
| Wire transfer summary | Confirm new wire |
When you select “New Wire” at the top of the page, you are asked to provide information about the beneficiary – the person that will receive the wire. You can enter this information in three ways:
A wire can be sent the same banking business day it is created if the wire is submitted and released (with funds available in your business checking account) by 11:30 a.m.
Ex: If you create and release a wire by 11:30 a.m. Monday, the payee will receive the funds on Monday. If you create and release a wire after 11:30 a.m. Monday, the payee will receive the funds on Tuesday.
Beneficiary Name – The name of the beneficiary as it appears on the identification used to withdraw funds from a financial institution.
Address 1 – The street address of the beneficiary.
Beneficiary Scope – Select “User” or “Business.” When “User” is selected, only the user, the Primary Contact or a Company Administrator can view the wire.
Account Number – The account number where the beneficiary would like funds deposited.
Account Type – Type of account where the beneficiary will receive funds (checking, savings, etc).
Other required fields include “City” and “Zip.”
Beneficiary Bank Name – The financial institution where the beneficiary will receive the wired funds.
Financial Institution Routing number (Fed ABA number) – The most critical piece of bank information is the Fed ABA number, which is the electronic routing number used by the Fed to remove funds from your Alaska USA account into the participant’s bank account.
Bank Lookup – helps locate the correct ABA number. To look up a bank, enter the name and state. Click “Search” and the lookup will return with a list of bank branches and ABA numbers that meet the selection criteria you submitted. Review the list, select the correct branch, and click the ‘Auto-Fill” button.
Tips:
- The more information you provide, the shorter the returned list. If you enter Alaska USA FCU, approximately 50 different branches will appear on the list. However, if you also entered Anchorage, AK, you’d get far fewer returns.
- If you can’t find the beneficiary bank in the Bank Lookup, it could be that an intermediary bank is involved. This happens when the beneficiary’s financial institution is too small to have its own ABA number. In such cases, the wire must be sent to an intermediary bank. Please call the Member Service Center at 563-4567 or (800) 525-9094 if you need to send a wire through an intermediary bank.
Debit Account – The business checking account to be debited.
Amount – Dollar amount of the wire transfer.
Requested Date – The date you would like the wire sent. Requested date can be today’s date, if the wire is created, approved (if necessary), and released by 11:30 a.m. Alaska Time. Wires released after 11:30 a.m. Alaska Time must be dated the next banking business day.
Repeating – The default “None” means that this is a one-time payment. Set up a repeating transfer by selecting an appropriate interval from the drop-down box. Then select either “Unlimited” or enter the preferred number of payments in the “# of payments” box. This option cannot be edited at a future date.
Once all the required information has been entered, click “Submit Wire” at
the bottom of the page to confirm the wire.