How to Monitor Incoming Wire Transfers
- 1). Supply your banking information to the person sending the wire. He will need your bank information including bank name, account number and routing number. Get his as well including the name of his bank, the account number, and addresses of the bank and the sender.
- 2). Agree upon the expected date the wire transfer should "hit" your account. If the sender signs paperwork at five o'clock on Friday, he may have missed the batch transfer since banks do all pending wires at the same time. Your money may not be expected to hit until Monday after three o'clock or even Tuesday.
- 3). Requisition intermediary bank information, if applicable. Intermediary banks are often used in international wire transfers and will have an additional SWIFT/BIC code that you will want.
- 4). Contact your bank and inform them of the anticipated wire transfer, the date it is expected and the amount. Some bank representatives may make a note and check the account for you and call you when the money has been deposited into the account. Provide your bank with the intermediary bank information if there is one. The bank may confirm that the money hit the intermediary but not yet your account.
- 5). Confirm receipt of your transfer with the sender immediately and advise as to any discrepancies in the wire transfer. Simple transpositions can create major discrepancies.