Are you requiring your business/domestic customers to submit an invoice when wiring funds? If so, in what circumstances? And what about the possibility that they make a phony invoice - how would or do you verify that it is a legitimate invoice?
Thank you.

From the areas I go to, it is common is Miami. (A couple hundred miles north in Orlando the bankers just look at you and say, "Really?") I also see it in "the Valley" in Texas.

You're right, anyone with Word skills can dummy up an invoice, but you at least put them to the trouble of lying to you in writing. You also accumulate some verifiable information in terms of business names and contact information. The fact that it isn't a perfect mechanism is not a valid reason for not doing it.

As for me, I would be very pleased if banks at least required a statement of purpose for every wire. My argument is that it's nothing but due diligence. Some of my converts have pointed out that it has also been very helpful in identifying romance schemes and the financial exploitation of the elderly.

why would you want to put this burden on your employees? and what about business customers that originate using your online platform? how do you make them provide invoice copies?

consumers? sure, I can see asking consumers this information, but business? Someone has too much time on their hands.

I was once wiring $1,000 to my sister, and the banker (not where I bank/work now) asked the purpose of the wire. I replied my sister asked me to borrow $1,000. He said "why does she need $1,000?" I said "no idea, didn't ask her." He said "you're wiring $1,000 to your sister and you don't know why she needs it?" I said "she has never asked me for money, so if she is, I assume she has a valid reason. I don't care what it is for, only that I'm in a position I can help her."

He just sat for about 30 seconds and then asked "do you need a brother?" we both got a chuckle out of that.