Posted By: Mel in WA
Remittance Transfer Disclosure Tracking - 04/12/22 08:48 PM
For consumer foreign wires, we capture in the 'bank use only' section how the disclosure was provided (in person/verbal). We are changing the disclosure to the vendor's format, which does not have a section to document how it was provided.
If we are already capturing how the wire was received (walk in, phone, email) when the wire information is being entered, do we need to track how the disclosure was provided? If yes, it would be a manual process, which is not ideal.
If we are already capturing how the wire was received (walk in, phone, email) when the wire information is being entered, do we need to track how the disclosure was provided? If yes, it would be a manual process, which is not ideal.