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Wire Transfer Agreement

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WIRE TRANSFER AGREEMENT

Customer Name:

This Wire Transfer Agreement (“Agreement”) governs the wire transfer (“transfer”) service between the customer named above (“Customer”) and ZB, N.A. (“Bank”) doing business as Zions First National Bank. This Agreement is governed by the laws of the United States and the laws of the state that governs Customer’s deposit agreement for the deposit accounts that are listed herein (the “State”). If mandatory provisions of those laws are amended, this Agreement shall be deemed amended to the extent necessary to comply. If any part of this Agreement is invalid, illegal, or unenforceable, the remaining provisions shall remain in effect. Unless otherwise defined, terms used in this Agreement shall have the meanings provided in the State Uniform Commercial Code, Article 4A.

This Agreement supersedes any prior agreements between Bank and the Customer on the subject matter hereof, and is binding upon the Customer’s heirs, representatives, and successors. This Agreement is supplemented by all non-conflicting provisions of Bank’s deposit account agreement with Customer, as amended from time to time.

Any claim between the Bank and the Customer relating to this Agreement, or to any authorized or unauthorized transfer from the accounts identified in this Agreement, shall be determined in accordance with the dispute resolution terms, conditions and procedures detailed in the deposit account agreement between Customer and Bank, as amended from time to time.

IF THE CUSTOMER IS A CONSUMER TRANSFERRING FUNDS TO A FOREIGN DESTINATION FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, THEN (a) ADDITIONAL DISCLOSURES WILL BE PROVIDED AT THE TIME OF TRANSFER AND (b) THOSE ADDITIONAL DISCLOSURES GOVERN OVER ANY CONFLICTING PROVISION CONTAINED HEREIN.

1) Customer Liability.

The Customer shall be liable to the Bank for and shall indemnify and hold the Bank, its affiliates, officers, directors, employees and agent harmless from any and all claims, causes of action, damages, expenses (including reasonable attorney’s fees and legal expenses), liabilities and other losses resulting from acts, omissions, or provision of invalid or inaccurate data, by the Customer or any other person acting in the Customer’s behalf, including without limitation: a) a breach of any provision of this Agreement; b) the Bank’s debiting or crediting of the account of any person as requested by the Customer; and c) any failure to act or delay by any financial institution other than the Bank.

2) Bank Liability.

The Bank shall be responsible only for performing the transfer services provided in this Agreement and shall be liable only for its negligence or willful misconduct in performing these services. The Bank shall not be liable for acts or omissions by the Customer or any other person including, without limitation, any funds transfer system, any Federal Reserve Bank, any beneficiary’s bank, or any beneficiary, none of whom shall be deemed the Bank’s agent. Without limitation, the Bank shall be excused from delaying or failing to act if caused by legal constraint, interruption of transmission or communications facilities, equipment failure, war, emergency conditions, strikes, or other circumstances beyond the Bank’s commercially reasonable control. In addition, the Bank shall be excused from delaying or failing to execute a transfer if it would result in the Bank’s exceeding any limitation on its intra-day net funds position established through Federal Reserve guidelines or if it would result in violating any present or future risk control program of the Federal Reserve or a rule or regulation of other governmental regulatory authorities. In no event shall the Bank be liable for any consequential, special, punitive, or indirect losses or damages incurred relating to this Agreement or any transfer including, without limitation, subsequent wrongful dishonor resulting from the Bank’s acts or omissions. Any liability of the Bank for loss of interest resulting from its error or delay shall be calculated using a rate equal to the Federal Funds Rate at the Federal Reserve Bank of New York for the period involved. Payment will be made by crediting the appropriate account involved in the funds transfer.

3) Reconcilement; Duty to Report Unauthorized or Erroneous Payment(s).

All transfers will appear on the Customer’s regular account statement. Customer must exercise ordinary care to examine each statement for any discrepancy concerning any transfer (including but not limited to discrepancies in authorization, or errors in amount or beneficiary) and to promptly notify the Bank of such discrepancies. The amount of time that the Customer has to discover and report such discrepancies will depend on the circumstances, but shall in no event exceed fourteen (14) days from the date the Bank makes available to the Customer the account statement, or from a notice of Bank’s acceptance of a transfer request, or from other information made available to the Customer (including information available via an online banking application) sufficient for the Customer to detect the discrepancy. If the Customer fails to promptly report the discrepancy, the Bank shall not be liable for and the Customer shall indemnify and hold the Bank harmless from any loss of interest with respect to the transfer and any other loss which could have been avoided had the Customer given such notice. If the Customer fails to notify the Bank within sixty (60) days after Bank provides the account statement, notice of acceptance of transfer request, or other information sufficient to detect the discrepancy, the Customer is precluded from any claim against the Bank.

4) Submitting Transfer Requests; Agents; Issuance, Assignment and Revocation of PINs.

This Agreement sets how the Customer shall submit transfer requests to Bank. The Customer should transmit its transfer requests using the online banking platform’s service and its separate security procedure when applicable; otherwise the Security Procedure defined in this Agreement shall govern off-line transfer requests.

5) SECURITY PROCEDURE.

For this Agreement, the “Security Procedure” means the steps set forth in paragraphs (A) and (B) below (or in paragraph (C) below as applicable), and is intended to be a “security procedure” for verifying the authenticity of transfer requests within the meaning of section 4A-201(i) of the Uniform Commercial Code as adopted by the State.

A. Each transfer request shall be made by telephone call to Bank’s Central Wires Department.

B. In addition, the transfer amount shall not exceed the applicable initiation limit and may require approval by a second PIN.

C. Alternate Security Procedure for Repeat Wires may be established by designating Repeat Wire Templates and a Code Name.

The Customer bears sole responsibility for maintaining the secrecy of all PINs issued to the Customer, including PINs assigned to Customer’s agents. Customer must immediately notify the Bank of any compromise or suspected compromise in the security of any PIN, and of the termination of any agent.

6) Processing Transfers Requests.

The Bank shall process transfer requests based solely upon information received from the Customer. The Customer shall pay the Bank with available funds on deposit for the amount of the transfer, plus the current Wire Transfer Fees and other applicable fees. Transfer requests received after applicable cut-off times will be treated as being received on the following funds transfer business day.

7) Errors and Rejections by Bank.

The Bank may in its sole discretion reject any transfer request or incoming transfer which does not conform to the limitations, procedures, and/or other requirements set forth in this Agreement, such as availability of funds on deposit.

8) Rejection of the Bank’s Transfer Request.

If the Bank receives notice that a transfer transmitted by the Bank has been rejected, the Bank shall notify the Customer of such rejection including the reason given for rejection by commercially reasonable means.

9) Cancellation and Change by Customer.

The Customer shall have no right to cancel or amend any transfer request after receipt by the Bank; however, the Bank shall use reasonable efforts to act on a cancellation or change request as long as it is received in accordance with the Security Procedure.

10) Amendments, Assignment, and Termination of Agreement.

The Bank shall be entitled to amend this Agreement at any time. Customer may terminate this Agreement at any time by delivering written notice to Bank.

11) Authorized Accounts and Authorized PIN Holders.

The Customer requests that PIN(s) be issued by Bank and assigned to the following PIN Holders. Customer further requests that each PIN Holder’s PIN be authorized to request and/or approve transfers from the accounts associated with that PIN, up to the dollar limits stated below.

CUSTOMER’S DESIGNATION OF PIN HOLDERS

Accounts Authorized for this PIN: Authorized to Initiate Wires (Y/N) Initiation Limit per Wire Transfer Authorized to Approve Other PIN Holders’ Wires? (Y/N) Approval Limit per Wire Request Is PIN Holder Authorized to Approve Own Wire Request? (Y/N)
Standard Initiation Limit Repeat Wire Initiation Limit
Sample Signature of PIN Holder:

Sample Signature of PIN Holder:

Sample Signature of PIN Holder:

Sample Signature of PIN Holder:

12) Notices. Any written notice by Bank to the Customer may be hand delivered or sent by U.S. mail or express carrier to the last known address in Bank’s records. Any written notice to the Bank by the Customer must be hand delivered or sent by U.S. mail or express carrier to CENTRAL WIRES OPERATIONS, 2200 South 3270 West, West Valley City, UT 84119-1112.

AGREEMENT OF CUSTOMER

The Customer hereby accepts the terms and conditions of this Agreement, and also attests to authenticity of each PIN Holder’s “Sample Signature” in the “Customer’s Designation of PIN Holders.”

SIGNATURE REQUIREMENTS:

For SOLE PROPRIETORSHIP: by the Owner.

For TRUST: by all the Trustees.

For CORPORATION: by one Officer who is authorized on the attached Certificate & Resolution of Authority.

For GENERAL or LIMITED PARTNERSHIP: by one General Partner who is authorized on the attached Certificate & Resolution of Authority.

For LLC: by one Manager (or by a managing Member) who is authorized on the attached Certificate & Resolution of Authority.

By:

If the Customer is not an Individual or Sole Proprietorship, then:

• Print the Name of the natural person signing for the Customer:

• Print the Title of the natural person signing for the Customer:

VERIFICATION OF OWNER’S SIGNATURE TO WIRE TRANSFER AGREEMENT

Bank Representative must witness the Customer signing, or a Notary is required

Notary

On this day of , , personally appeared before me, , proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed above to this WIRE TRANSFER AGREEMENT as signing on behalf of the above-named Customer, and acknowledged that he (she) executed the same.

Bank Use Only

This section must be completed, even if the document is notarized

I have the original signed Wire Transfer Agreement in my possession, and (check one):

I personally saw the Customer sign this Agreement; OR

This Agreement is notarized, and I personally contacted the person named above as signing for the Customer to confirm the Bank’s receipt of this Agreement. Contacted at phone #:

If the Customer is not an Individual or Sole Proprietor:

I personally verified that the person signing for the Customer is a Principal (e.g. officer) authorized to sign this Agreement for the Customer.

CERTIFICATE & RESOLUTION OF AUTHORITY

(for Corporation, General Partnership, Limited Partnership or Limited Liability Company)

Company Name: (the “Company”).

“RESOLVED: That any one of the following persons (insert names and titles) acting alone is authorized by the Company:”

CERTIFICATION: Each person(s) signing below hereby certifies to Bank that the resolution above was duly adopted and remains in full effect.

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What a Wire Transfer Agreement Is and Why It Matters

A Wire Transfer Agreement is a written contract establishing terms for initiating and receiving bank wire transfers between parties, including authorization, beneficiary details, security measures, fees, and liability allocation. It documents who may request transfers, acceptable transfer channels, required account and routing information, timing and cutoff rules, and reconciliation procedures. The agreement reduces disputes by defining representations, warranties, and error-handling processes, and it typically references applicable banking rules and fraud prevention steps. Use clear identification and signature blocks to ensure enforceability and auditability.

Key Advantages of Using a Wire Transfer Agreement

A Wire Transfer Agreement clarifies authorization, reduces fraud risk, and allocates fees and liabilities between sender and recipient. It improves operational consistency by standardizing required data, cutoff times, and verification procedures, thereby reducing processing errors and costly disputes.

Key Advantages of Using a Wire Transfer Agreement

Who Typically Prepares and Signs Wire Transfer Agreements

Organizations and individuals who move funds frequently, manage client disbursements, or handle escrow should use a Wire Transfer Agreement.

  • Banks and financial institutions that process outgoing wires and need standardized authorization.
  • Businesses sending payroll, vendor payments, or large customer refunds on a recurring basis.
  • Law firms, escrow agents, and real estate closers managing conditional disbursements or settlement funds.

Use agreements to set clear responsibilities for verification, error correction, and indemnity to protect all parties involved.

Core Elements to Include in a Professional Wire Transfer Agreement

A professional Wire Transfer Agreement should combine clear authorization language, precise data fields, and procedural safeguards to support secure, auditable wire execution.

Authorization

Describe who is authorized to initiate transfers, any dollar limits, required approvals, and whether approvals can be delegated. Include procedures for revocation and steps for emergency overrides.

Account Data

Specify required account identifiers: ABA routing numbers for domestic wires, IBAN/SWIFT codes for international transfers, account types, and required supporting documentation such as voided checks.

Fees & Costs

Allocate responsibility for bank fees, intermediary fees, currency conversion charges, and any per-transfer service fees. Define fee caps or pass-through billing methods if applicable.

Security

Detail authentication measures, dual-approval requirements, fraud detection triggers, and notification protocols for suspicious activity. Reference any required AML/KYC procedures.

Timing

Set cutoff times, expected settlement windows, and procedures for failed or returned transfers, including notification deadlines for claimed errors.

Liability

Allocate liability for misdirected funds, errors, or unauthorized transfers. Include indemnity language, dispute resolution steps, and any limits on damages.

Step-by-Step: Completing a Wire Transfer Agreement

Follow these steps to complete a Wire Transfer Agreement accurately and reduce processing delays or compliance issues.

  • 01
    Gather Information: Collect account numbers, routing numbers, and beneficiary IDs.
  • 02
    Draft Terms: Specify authorization scope, fees, and transfer limits.
  • 03
    Review Compliance: Confirm U.S. laws, AML checks, and record retention.
  • 04
    Sign and Distribute: Obtain signatures and share copies with banks and stakeholders.

Typical Electronic Workflow for Wire Authorizations

Typical routing for electronic wire authorizations streamlines verification, signing, and transmission between sender, bank, and beneficiary.

  • Upload: Sender uploads agreement with required attachments.
  • Assign: Set signer roles and approval order.
  • Authenticate: Verify identity via email, SMS, or KBA.
  • Transmit: Bank processes wire and records transaction.

Online Workflow Settings to Enforce Controls

Configure online workflows to route approvals, require authentication, and attach required documents for each wire transfer request.

Field Configuration
Authentication Email link or SMS code
Conditional Fields Show bank details when recurring selected
Document Attachments Attach payee invoice or authorization
Audit Trail Capture IP, timestamp, and signer email

Recommended Security and Compliance Controls

Encryption: TLS 1.2/1.3; AES-256 at rest
Audit Trail: Timestamps, IP, action logs
Authentication: Email, SMS, multi-factor options
Access Controls: Role-based permissions and SSO
BAA Availability: HIPAA BAA offered when needed
Certifications: SOC 2 Type II; ISO 27001

Common Preparation Pitfalls to Avoid

  • Using incomplete beneficiary details causes transfer rejections and can delay funds for days while banks trace transactions; always verify account numbers and routing codes before submission.
  • Failing to specify authorization limits or multi-approver rules can enable unauthorized transfers or internal disputes; document explicit approval thresholds and escalation paths.
  • Neglecting to include fee allocation leads to surprise charges and disputes between sender and recipient; clearly state which party pays intermediary and conversion fees.
  • Relying on verbal authorization without written consent increases audit risk and undermines enforceability; require signed or recorded electronic authorization for all wire instructions.

Consequences of an Incorrect or Missing Agreement

Misrouting Funds: May lead to irrecoverable loss
Fraud Exposure: Unauthorized transfers increase liability
Regulatory Fines: AML/KYC failures risk enforcement
Contractual Breach: Damages and indemnity claims
Operational Delays: Payment hold or returned funds
Tax Reporting: Incorrect reporting may trigger penalties

eSignature Vendor Comparison for Wire Transfer Agreements

Compare common plan attributes and compliance features for eSignature vendors relevant to Wire Transfer Agreements.

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 Yes, 7-day trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes 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

Frequently Asked Questions About Wire Transfer Agreements

Answers to common questions about completing, signing, and validating Wire Transfer Agreements, including eSignature and notarization considerations.


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