How do I update an existing SSI?

Use a controlled change process: collect new banking documentation, validate account details with the bank or micro-deposit, obtain required authorizations, record the effective date, and distribute the new SSI through the secure channel used by your treasury team.

Are electronic SSIs legally binding?

Yes, electronic SSIs can be enforceable under the ESIGN Act (15 U.S.C. ch. 96) and state UETA provisions when intent to sign, consent to electronic delivery, attribution, and reliable record retention are demonstrable.

When is notarization required?

Notarization is only required if contract terms or a specific jurisdiction demand it. For high-value or third-party authorizations, a notarized or remotely notarized signature provides additional verification and evidentiary value.

What authentication level is recommended?

Use email + SMS code or KBA for routine updates and stronger multi-factor or certificate-based authentication for high-risk or high-value instruction changes to reduce fraud risk.

How long should I retain SSIs?

Retain active SSIs while in use, then keep archived copies for at least three years post-termination; longer retention may be required for tax or industry-specific records.

How do I revoke or cancel an SSI?

Issue a signed revocation or replacement SSI through the same authenticated channel, notify counterparties and banks in writing, and log the revocation date and authorizing person to prevent future use.

Financial SSIs

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

FINANCIAL STANDING SETTLEMENT INSTRUCTIONS (SSIs)

Parties and Contact Details

Client Name:

Client Registered Address Client Tax/Entity ID Primary Contact Contact Phone / Email

Financial Institution Name:

Institution Address Institution Contact

Effective Date and Instruction Scope

Effective Date:

These Standing Settlement Instructions ("SSIs") set forth the standard payment and settlement routing to be used by the Financial Institution and its agents for transactions on behalf of the Client. The Client instructs the Financial Institution to rely on these SSIs until written notice of amendment or revocation is delivered and acknowledged in accordance with the amendment and termination provisions below.

Instruction Types (select all applicable)

Wire transfer (SWIFT/BIC / ABA)
ACH / Domestic electronic credit
Issued check
Other (describe)

If Other, provide details

Beneficiary Bank Details

Beneficiary Bank Name Beneficiary Bank Address

SWIFT / BIC: ABA / Routing:

IBAN:

Account Name (Beneficiary) Account Number Correspondent / Intermediary Bank (if required)

Payment and Settlement Instructions

Currency: Payment Reference / Ordering Instructions:

Cut-off Time for Same-Day Processing Recurring Payment Schedule (if applicable)

Fees, Charges and Allocation

All fees, charges and correspondent costs shall be allocated as follows:

Client (OUR) — Client bears all fees and charges
Shared (SHA) — Charges shared between sender and beneficiary
Beneficiary (BEN) — Beneficiary bears all fees and charges

Special Fee Instructions (if any) Late Payment / Non-Settlement Policy

Representations, Warranties, and Indemnity

The Client represents and warrants that: (a) it is duly organized and authorized to enter into these SSIs; (b) the account and beneficiary details provided are complete and accurate; (c) the individuals executing this form are authorized signatories for the Client; and (d) funds transmitted pursuant to these SSIs are not the proceeds of unlawful activity. The Client shall indemnify, defend and hold harmless the Financial Institution and its agents from and against any claims, losses or liabilities arising from errors, omissions or fraudulent instructions provided by the Client, except to the extent caused by the Financial Institution's gross negligence or willful misconduct.

Amendment, Revocation and Termination

These SSIs may be amended or revoked only by a written notice signed by an authorized representative of the Client and acknowledged in writing by the Financial Institution. The Financial Institution shall be permitted a commercially reasonable period to implement any change once acknowledged. The Financial Institution may suspend reliance on these SSIs immediately upon receipt of notice of suspected fraud, regulatory concern, sanctions screening hit, or an order of competent authority.

Compliance and Governing Law

The Client and the Financial Institution each agree to comply with applicable anti-money laundering, counter-terrorist financing, economic sanctions and export control laws and regulations. These SSIs shall be governed by and construed in accordance with the laws of the jurisdiction specified below. Any dispute arising under or in connection with these SSIs shall be subject to the exclusive jurisdiction of the courts of that jurisdiction unless otherwise agreed in writing.

Governing Law:

Certifications and Authorizations

By signing below, the undersigned certifies that the information contained in these SSIs is true and correct, that the undersigned is duly authorized to execute and deliver these SSIs on behalf of the Client or Financial Institution as indicated, and that the parties will implement settlement activity consistent with the terms set forth herein.

Authorized Signatory Name (Client) Title Contact Phone / Email Authorized Signatory Name (Financial Institution) Title Contact Phone / Email

Additional Notes / Special Conditions

Client Name:

By:

Date:

Financial Institution Name:

By:

Date:

What Financial SSIs Are and why they matter

Financial SSIs (Standard Settlement Instructions) are formalized payment and settlement directions used by corporate treasuries, broker-dealers, custodians, and counterparties to route funds, securities, and fee payments. An SSI records beneficiary account details, bank routing or SWIFT/BIC codes, required remittance references, currency and settlement cycle rules, and any intermediary bank instructions. Properly maintained SSIs reduce misdirected payments, speed reconciliation, and form part of an audit-ready record. Electronic SSIs can be shared and updated securely under U.S. e‑signature laws when stored with retention and access controls suitable for the industry.

Why accurate Financial SSIs improve reliability and compliance

Well-drafted Financial SSIs lower operational risk, reduce failed or returned payments, and provide a clear audit trail for reconciliations and regulatory review. When exchanged electronically and executed under ESIGN (15 U.S.C. ch. 96) or UETA, SSIs can be managed with authenticated signatures and retained as admissible records.

Who typically prepares and relies on Financial SSIs

Multiple groups create, verify, or act on SSIs across the payment lifecycle.

Corporate Treasury teams responsible for outgoing payments and vendor banking details, including daily cash management and reconciliation tasks.
Custodians and broker-dealers who maintain counterparty settlement details and process securities or FX settlements.
Accounts payable, vendors, and third-party payment processors that use SSIs to ensure funds reach the correct beneficiary account.

Clear assignment of responsibility for creation, verification, and periodic confirmation reduces operational errors and compliance gaps.

Core elements of a professional Financial SSIs record

A complete SSI groups technical payment data, operational rules, and authorization evidence so payments can be processed, verified, and audited without follow-up.

Beneficiary Details

Full legal payee name exactly as on account; mismatched names are a common cause of returned payments and bank holds.

Bank Identifiers

ABA routing, IBAN, SWIFT/BIC, and intermediary bank instructions presented with precise character formatting and expected validation rules.

Account Info

Primary account number and account type (checking/savings/nostro) plus branch or currency-specific settlement details for cross-border transfers.

Payment Rules

Required remittance reference, invoicing code, currency, cut-off times, and acceptance of charges (OUR/SHARED/BEN) to reduce reconciliation exceptions.

Authorization

Signed authorization block, effective date, and scope (one-time vs standing) that documents who can approve changes or initiate payments.

Revision History

Versioning, change author, timestamp, and confirmation receipts to support audits and identify when instructions were in force.

Security and compliance controls to include

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Audit Trail: Timestamps, IP, and action history

Authentication: Multi-factor or KBA for high-risk updates

HIPAA BAA: BAA required if tied to protected health information

Regulatory Certs: SOC 2 Type II; ISO 27001 available

21 CFR Part 11: Compliant options for FDA-regulated records

Step-by-step: creating, verifying, and sharing Financial SSIs

Follow a consistent process to collect, validate, authorize, and distribute SSIs so changes are auditable and payments proceed without interruption.

01

Collect Information: Gather bank details, supporting documentation, and account verification items.
02

Validate Data: Confirm routing numbers and account names with bank validation or micro-deposits.
03

Authorize Instructions: Obtain required sign-offs and record the effective date.
04

Distribute Securely: Share via secure portal or encrypted email with audit logging.

Configuring an online SSI workflow

Standardize fields, authentication, and retention in your e-sign workflow to automate validation and reduce manual checkpoints.

Field	Configuration
Required Fields	Bank name \| ABA/SWIFT \| Account number \| Currency
Authentication	Email + SMS code or KBA for high-risk changes
Bulk Update	Template + bulk send for mass counterparty onboarding
Retention Policy	Auto-archive and exportable audit trail

Where to file, send, or submit Financial SSIs

Choose destinations and delivery methods that preserve security, produce an auditable record, and integrate with payment systems.

Treasury System: Upload SSIs to the central treasury or TMS for payments.
Vendor Portal: Provide SSI templates via secure supplier portals.
Payment Instructions: Attach SSI reference to each wire or ACH template.
Counterparty Exchange: Share signed SSIs with counterparties through encrypted links.

Technical considerations for eSubmission and eSignatures

Use a platform that supports standard file formats, authenticated signing, an immutable audit trail, and enterprise integrations.

File Formats: PDF, DOCX, and exportable XML
Integrations: Connectors for ERP and TMS systems
Signer Authentication: Email, SMS code, or SSO options

Confirm the platform provides encryption in transit and at rest, supports audit logs, and can export signed records for treasury and audit teams.

Timelines, confirmations, and processing expectations

Establish and communicate update windows and internal processing SLAs so changes are applied before scheduled payments.

Immediate Updates:

Apply changes immediately for urgent corrections; allow validation time.

Annual Confirmation:

Request SSI confirmation from counterparties at least once per year.

Change Notice:

Require 30 days' notice for planned account changes where applicable.

Internal Processing:

Allow 1–3 business days for treasury to apply validated changes.

Cut-off Alignment:

Coordinate with bank cut-off times to avoid same-day failures.

Common mistakes to avoid when preparing Financial SSIs

Entering account names that differ from the bank record, which commonly causes micro‑deposits to fail or payments to be returned.
Using incorrect routing or SWIFT codes without verifying the branch or intermediary bank, leading to delayed or misrouted cross-border transfers.
Failing to document authorization scope and effective dates, creating disputes about which version of an SSI governed a payment.
Distributing SSIs through unsecured email or open file shares, increasing risk of interception and fraudulent changes.

Operational and regulatory risks from incorrect SSIs

Payment Failures: Delayed or returned funds

Regulatory Fines: Penalties for AML or reporting breaches

Reconciliation Delays: Extra staffing and investigation time

Fraud Exposure: Unauthorized instruction changes

Tax Withholding Risk: Incorrect withholding or reporting

Contract Liability: Counterparty claims for damages

Representative eSignature vendor comparison for Financial SSIs

Compare baseline pricing and common enterprise capabilities; signNow is listed first in the table per site conventions.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes (Business Premium)	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Real-world examples of Financial SSIs in use

These short examples illustrate how organizations use SSIs to accelerate payments and maintain compliance.

Optica Ventures (COO)

Optica standardized SSIs across investment entities to avoid routing mistakes and expedite distributions.

Automation reduced manual entry and phone confirmations.
The change lowered settlement exceptions and improved cash forecasting, enabling faster reconciliation and fewer bank returns.

Xerox (NetSuite Director)

Xerox integrated SSIs with ERP templates to populate payment runs automatically.

Template-based SSIs reduced data errors during mass payments.
Integration with treasury and GL systems shortened month-end close and reduced payment-related support tickets.

FAQs and troubleshooting for Financial SSIs

Answers to frequent questions about updating, validating, and revoking SSIs, plus guidance on electronic execution and recordkeeping.

Need help? Contact support

How do I update an existing SSI?
Use a controlled change process: collect new banking documentation, validate account details with the bank or micro-deposit, obtain required authorizations, record the effective date, and distribute the new SSI through the secure channel used by your treasury team.
Are electronic SSIs legally binding?
Yes, electronic SSIs can be enforceable under the ESIGN Act (15 U.S.C. ch. 96) and state UETA provisions when intent to sign, consent to electronic delivery, attribution, and reliable record retention are demonstrable.
When is notarization required?
Notarization is only required if contract terms or a specific jurisdiction demand it. For high-value or third-party authorizations, a notarized or remotely notarized signature provides additional verification and evidentiary value.
What authentication level is recommended?
Use email + SMS code or KBA for routine updates and stronger multi-factor or certificate-based authentication for high-risk or high-value instruction changes to reduce fraud risk.
How long should I retain SSIs?
Retain active SSIs while in use, then keep archived copies for at least three years post-termination; longer retention may be required for tax or industry-specific records.
How do I revoke or cancel an SSI?
Issue a signed revocation or replacement SSI through the same authenticated channel, notify counterparties and banks in writing, and log the revocation date and authorizing person to prevent future use.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now