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Business Wires

Wire transfers are one of the quickest and safest ways for sending money and ensuring funds are securely paid by electronic payment. Paying vendors, suppliers, and individuals has never been easier (or faster). Using Wires in Banno Online, end users can:

  • Create and edit wires
  • Review and initiate wires
  • View wire history

Depending on the number of enabled payment entitlements, Wires displays individually or in a drop-down under Payments in the app’s navigation menu.

View and search wires

Wires are organized and separated by the account that funds were sent from. Using the account filter above the list of wires, a dialogue opens and allows the end user to select and search which account they want to view wires for. Depending on the wire status, a wire displays in the Active list or History list for an account.

Active
Wires in a Ready, Initiated, or Pending approval status.
History
Wires in a Processed status.

Using the calendar on the dashboard, end users can see and select dates that had an initiated wire.

Status

Depending where a wire’s in the transmit process, it’s in one of the following statuses:

Ready
The wire is created and ready to initiate sending funds to the receiving institution.
Initiated
The wire has been sent and the process for transferring funds begins.
Pending approval
The wire was initiated by an end user. If the wire requires dual wire control, a second end user must approve it before it can move to a Processed status.
Processed
The wired funds have been deposited in the recipient’s account. In the wire details, a Transmitted date and Effective date display.

Create wires

  • Wires
  • Create wire

The end user provides wire details, including the wire name, account, amount, recipient information, and receiving financial institution. If necessary, details for an intermediary institution can be entered as well.

When the end user completes the receiving institution details, it’s crucial they enter the correct routing number. To ensure accuracy, they can use the Find institution search tool to auto-populate the institution’s fields. End users can search search by institution name, routing/ABA number, city, or state. After entering a keyword or routing/ABA number, press the return key to display search results.

After the end user successfully creates a wire, Wire created displays, and the wire details display at the bottom of the Active tab of wires. The wire will also be in the Ready status.

If a wire fails to create, the following error messages displays, Failed to create wire [wire name] for [wire amount] to [recipient name] from account ending in [last four digits of account]. The end user should try creating the wire again.

Review and initiate wires

  • Wires
  • Active list
  • select account
  • select wire

When the wire’s in a Ready status, review the Wire details for accuracy. If needed, edit and save the changes. Select the Review and initiate button. The end user can review the wire details a final time. If edits are needed, select to go back and make changes. If the wire details are correct, send the wire by selecting the Initiate button. Because wire transfers are high-risk, the end user’s must complete high-risk authentication and confirm their password. After the password’s entered, a successfully initiated wire displays Wire initiated, and the process of transferring funds between institutions begins.

For initiating a wire, the end user’s password is the same as their wire PIN set up in NetTeller. For wire amounts of $2.00 or more, the end user will always confirm their password.

If a wire fails to successfully initiate, we recommend checking the business’s account and settings in BackOffice to ensure the wire details are aligned.

Edit or delete wires

  • Wires
  • Active list
  • select account
  • select wire
  • Edit or

Banno makes managing wires easy. You can edit or delete a wire while it’s in the Ready status. If a wire is deleted, it cannot be recovered. Once a wire’s initiated, it can’t be edited, deleted, or canceled.

Wire fees

Any fees are determined by your institution and set in BackOffice. The fee(s) display as separate transactions from the wire and are withdrawn from the same account wiring the funds.

Entitlements

Managing end user entitlements is done in NetTeller BackOffice.1

Activity

As an end user creates or initiates a wire, the end user’s Activity records the following:

  • Date
  • Time
  • Message
    • Wire creation successful
    • Wire creation failed
    • Wire transmitted
    • Wire deleted
    • Wire initiated
    • High-risk authentication requested
    • Passed high-risk authentication
    • Failed high-risk authentication
  • Device type
  • Device OS
  • Browser
  • IP address

When Banno enables and disables Wires for an end user, Activity records the following:

  • Date
  • Time
  • IP address
  • [First and last name of Banno support rep] updated wires from [true or false] for [end user name] from [IP address].

When Banno enables or disables Wires for an end user, the end user’s Activity also displays the change and includes the following:

  • Date
  • Time
  • Configuration changed by [first and last name of Banno support rep]
  • IP address

FAQ


What are an Effective date and Transmitted date?
An Effective date is the date a wire began the process of transferring funds to the recipient’s institution. The Transmitted date is the date the funds were deposited into the recipient’s account. Because processing timelines and cut-off times impact how quickly funds transfer.
What are the cut-off times and processing timelines for sending a wire?
Cut-off times and processing parameters are located and set in BackOffice.
Can an end user send an international wire?
No, Banno currently offers domestic wire transfers.
When using the Find institution search bar for the receiving institution, the routing/ABA number matches where the wire needs transferring to but the institution’s name, city, and or/state doesn’t match. How does this impact creating and sending a wire?
As long as the routing number is accurate, the institution name, city, and/or state doesn’t have to exactly match the branch where the end user moves funds.
What is the Template field in the Wire details, and why is it always No?
This field applies to future functionality and has no impact on wires that you create today.

  1. For additional information, refer to your NetTeller documentation. ↩︎