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▲ 7175 Tower Road, #A, Battle Creek, MI 49014 ▲ 800.785.5527 ▲ Fx: 269-660-1641
        ▲ 210 East Main Street, Suite 200, Niles, MI 49120 ▲ 800.785.5527 ▲ Fx: 269-684-6036


           FUNDS TRANSFER – BEST PRACTICES
 Set appropriate limits for wire transfers through
  telephone, fax, and e-mail requests.

 Develop and use a clear and complete Funds Transfer
  Agreement.

 Clearly establish a Callback Verification process using a
  password and/or information not easily obtained by others.

 Log all calls – Date, time, method of identification
  (includes questions and answers), member providing the
  information, and employee initials.

 Segregate duties between employees receiving the
  transfer request, conducting the call back, and making the
  transfer.
 Train staff regarding call forwarding scams and to listen
  for audible clues.
 Be wary of a telephone number that was changed
  within 30 days of the transfer request.
 Communicate policies and procedures with all staff.

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  • 1. ▲ 7175 Tower Road, #A, Battle Creek, MI 49014 ▲ 800.785.5527 ▲ Fx: 269-660-1641 ▲ 210 East Main Street, Suite 200, Niles, MI 49120 ▲ 800.785.5527 ▲ Fx: 269-684-6036 FUNDS TRANSFER – BEST PRACTICES  Set appropriate limits for wire transfers through telephone, fax, and e-mail requests.  Develop and use a clear and complete Funds Transfer Agreement.  Clearly establish a Callback Verification process using a password and/or information not easily obtained by others.  Log all calls – Date, time, method of identification (includes questions and answers), member providing the information, and employee initials.  Segregate duties between employees receiving the transfer request, conducting the call back, and making the transfer.  Train staff regarding call forwarding scams and to listen for audible clues.  Be wary of a telephone number that was changed within 30 days of the transfer request.  Communicate policies and procedures with all staff.