Does anyone have procedures/policies they would be willing to share on funds transferred via telephone request. this would be for transfers within the bank, not wire transfers. Or if anyone has any "words of wisdom" on this subject, that would also be helpful.

Our customers can transfer funds through our telephone automated system and they can also call a customer service person (teller or sales counselor). If they do the transfer thru a representative on the telephone, the accounts have to be titled exactly the same (i.e. Mary or John Doe to Mary or John Doe; ABC store to ABC store; Tom, Dick or Harry to Tom, Dick or Harry). Works well here.

We allow customers to transfer funds as long as they are a signer on the account they are transfering from and transfering to. The account titles do not have to be the same. We verify 3 pieces of identifying information prior to processing their request. I haven't heard of any isses with this process.

What types of information do you have them verify? Is it all non-public information?

You should not be allowed to transfer unless account names are the same. Simply being a signer on both accounts is a big problem. For example-I was a signer at my former place of employment (a Large Town) and I am a signer on my personal accunt. By your rules, I would be permitted to transfer funds from the Town's account into my personal account. I recommend that this be re-evaluated.