Gain competitive advantages and new revenue opportunities by supporting your customers’ international payment needs.
Think Locally, Bank Globally.
Most U.S. companies involved in international trade are smaller firms like your clients. ACBB helps your clients thrive in the international marketplace.
Our suite of sophisticated global payment solutions is designed to help local financial institutions enhance their payment offerings and build stronger business relationships, while staying efficient and managing risk.
Many account holders rely on international wire transfers for a fast and convenient way to send money just about anywhere, right from their local branch.
But differences among financial institutions and countries mean the information required can vary, and can make the process more complex.
When initiating a wire, it’s important to verify the source of the funds, the recipient’s information, the purpose of the payment, and the destination country, currency, and amount of the wire.
Getting the correct information helps prevent returns, delays, and extra fees.
Even more important, it can help YOU spot potential fraud.
Because international wires are typically immediate and final and they can be difficult to recall, they’re one of the most preferred payment methods used by scammers.
Consumers and businesses lose more than four billion dollars a year to online fraud and other cybercrime, often through wire payments.
These scams come in many forms, including threats from I-R-S imposters, Interest on Lawyers Trust Accounts scams, fake charities, sweetheart scams, real estate scams, and fake family emergencies.
When discussing wire transfers with customers, be alert for red flags. These include:
An unexpected, official-sounding message with typos, urgent language calling for immediate payment, and threats of imprisonment, fines, account closure, or home foreclosure.
Also, watch out for deals that sound too good to be true, or unusual transaction requests.
Requests to verify personal or account information.
A wire recipient who the sender doesn’t know, or who won’t communicate by phone, or a known wire recipient whose payment instructions have changed.
Or evidence that your customer exhibits fear due to harassment or was coached on what to say at the financial institution.
Scams can be sophisticated. It can be hard to convince some customers they’re a victim of fraud.
Before initiating the wire, ensure the customer understands and accepts responsibility for the transaction.
You play a key role in detecting potential wire transfer fraud, and helping to protect account holders.
By the Numbers
Access a secure and reliable system to manage incoming and outgoing wire transfers.
Be ready to furnish foreign currency for your account holders’ international travels.
INTERNATIONAL ACH PROCESSING
Get a comprehensive ACH processing solution for your international payment needs.
Minimize the effort and complexity around the exchange and settlement of foreign deposit items.
INTERNATIONAL LETTERS OF CREDIT
Help your clients thrive in the global marketplace with access to import and standby letters of credit.
CANADIAN IMAGE CASH LETTER
Accept Canadian checks conveniently with an image-enabled, end-to-end clearing solution.
ACCESS TO THE SWIFT NETWORK
Make it easier for customers to receive wire transfers and increase your international reach as part of the SWIFT network.
ANOMALY DETECTION SERVICE
Receive automatic alerts for outgoing ACH and wire variances.
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