Wire Services at Exchange Bank: Domestic and International
Wire services at Exchange Bank cover domestic Fedwire same-day transfers and international SWIFT transfers (1-3 business days). Initiation happens in-branch for sub-$50K personal wires and through the commercial online-banking portal for business clients with dual-control release. Every wire is screened against OFAC Specially Designated Nationals and applicable sector sanctions.
This Exchange Bank service brief documents cutoff times, settlement windows, fees and initiation channels. Wire fraud remains a top banking-fraud vector — all customers should treat unexpected wire-transfer instructions with skepticism and verify by a phone call to a known number, per FTC wire-fraud guidance.
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Service Brief: Domestic Fedwire and International SWIFT
Two rails serve different use cases at Exchange Bank.
Domestic Fedwire carries US-dollar payments between US banks on the same business day for wires submitted before 3:00pm Pacific Time. Fedwire is the standard rail for time-sensitive US payments: real-estate closings, SBA loan disbursements, estate settlements, large vendor payments and buy-side capital calls. Settlement is final and irrevocable once released — Exchange Bank cannot recall a released Fedwire absent the recipient bank's cooperation.
International SWIFT carries multi-currency payments via correspondent-bank networks. Settlement typically takes 1-3 business days depending on the corridor, currency and intermediary hops. US-dollar-denominated international wires move through USD correspondent chains; foreign-currency wires settle through FX conversion, with rate locked at Exchange Bank's book at initiation. Correspondent-bank lifting fees may deduct from the wire amount and are not controlled by the originating bank.
Service Brief: Wire Type Matrix
| Wire Type | Cutoff (PT) | Settlement | Fee | Initiation |
|---|---|---|---|---|
| Domestic Fedwire outbound | 3:00pm | Same business day | $25 | In-branch (sub $50K) or commercial online |
| Domestic Fedwire inbound | N/A (receive) | Same business day | $15 | Auto-credit on receipt |
| International SWIFT outbound | 1:00pm | 1-3 business days | $45 | In-branch or commercial online |
| International SWIFT inbound | N/A (receive) | 1-3 business days | $20 | Auto-credit on receipt |
| Commercial recurring wire (template) | 3:00pm | Same/next business day | $18 tier | Commercial online, dual-control |
Compliance Snapshot: OFAC, BSA and Dual-Control
Every outbound and inbound wire at Exchange Bank is screened against the US Treasury OFAC Specially Designated Nationals (SDN) list, the sectoral sanctions lists, the consolidated screening list, and the Exchange Bank's enhanced-due-diligence watchlist. Screening runs in real time at initiation and again at release. A hit pauses the wire for compliance review; most reviews clear within one business day, with the customer notified by phone from the Santa Rosa wire desk.
Under the Bank Secrecy Act, Exchange Bank files Currency Transaction Reports for cash-equivalent wire funding over $10,000 and Suspicious Activity Reports where indicators suggest structuring, layering, unusual origin, or activity inconsistent with known customer profile. Customers with unusual but legitimate cross-border flows (agricultural export, family-abroad remittance, dual-citizenship estate planning) are encouraged to provide context at origination to speed compliance clearance.
Commercial online wires over $25,000 at Exchange Bank default to dual-control: one authorised user initiates, a second authorised user reviews and approves before release. Dual-control defeats most credential-theft wire-fraud scenarios because the fraudster would need to compromise two separate identities, typically on different devices, within the cutoff window. The dual-control threshold is configurable per business by the corporate treasury administrator.
Feature Brief: Fraud Prevention for Wire Senders
Wire fraud at community banks most commonly arrives as business-email compromise: a fraudster impersonates a vendor, law firm or executive and emails updated wire instructions that differ by one digit of the account number. Exchange Bank recommends three countermeasures: (1) call back on a known phone number (never the number on the email) to verbally confirm routing and account, (2) require dual-control for wires over a meaningful threshold, (3) enable wire-confirmation callbacks from the Santa Rosa wire desk for wires above a customer-defined ceiling.
Real-estate closings are an especially targeted category. Homebuyers should confirm closing-wire instructions with the escrow officer by a previously-known phone number and be alert to last-minute change-of-instructions emails, per CFPB real-estate wire-fraud bulletins. Exchange Bank customers have lost zero dollars to verified callbacks when the callback was made before release.
Experience Profile: Typical Wire Use Cases
Personal Exchange Bank customers typically send wires for real-estate down payments (Sonoma County median around $750K), estate settlements, private-party vehicle purchases, and child tuition to out-of-state universities. International wire volume is low but non-zero, driven by Wine Country residents with European family or cross-border property. Business customers use wires for large-vendor payments, payroll for out-of-state contractors, cross-border wine exports, and SBA/commercial loan closings.
Wire support from the Santa Rosa wire desk is available 8:00am-5:00pm PT weekdays. Urgent wire issues (wrong routing, pending recall, OFAC hold) are escalated to the BSA officer for same-business-day resolution where possible. Recalls on released Fedwires depend on recipient-bank cooperation and are not guaranteed.