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#863189 - 11/29/07 08:54 PM wires - beneficiary
Tessie Offline
100 Club
Joined: Jan 2006
Posts: 155
When a customer of ours wires money to a non-customer, does our bank have to verify the beneficiarys identity?

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Deposits and Payments
#863229 - 11/29/07 09:16 PM Re: wires - beneficiary Tessie
West Texas Offline
Diamond Poster
West Texas
Joined: Jan 2007
Posts: 1,159
Lost in the desert....
It is not necessary to verify the beneficiarys identity.
_________________________
I used to have an open mind but my brains kept falling out.


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#864294 - 11/30/07 09:10 PM Re: wires - beneficiary West Texas
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,858
Pulling people out of the ditc...
you are unable to verify the identity of the beneficiary, unless the funds are wired to your bank and you ask when they come in
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Providing alternative truths since the invention of time

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