A wire transfer is an electronic transfer of funds from one financial institution to another and is generally originated by a written or verbal request by a Capital Bank client. Because a wire transfer represents the immediate transfer of funds from the bank, it is the policy of Capital Bank to ensure that all wire transfer requests are received only from individuals who are authorized to withdraw funds from Capital Bank accounts and to transfer funds only against collected funds as outlined below.
The following deadlines have been established for processing incoming and outgoing wire transfers:
- Outgoing Domestic Transfers: 4:00 p.m.
- Outgoing Foreign Transfers: 3:00 p.m.
- Incoming Transfers: 5:00 p.m.
On days on which the bank officially closes early, the deadline for accepting outgoing wire transfer requests will be one hour prior to the announced closing time.
Items that may be needed for sending and/or receiving a wire transfer:
- Name and address of the sender
- Sender’s identification (i.e. driver’s license or passport) and the corresponding number
- Sender’s social security number or tax ID number
- Amount and date of the payment order
- Payment instructions (including the receiver’s name, address, financial institution and account number)