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Wire Transfers

Green money bagDo You Need Your Money to Get There Quickly? 

Sending a wire transfer is the way to get it done!  A wire transfer allows you to send money quickly and securely without the need to exchange cash. 

What Are the Advantages of Wire Transfers?

Wire transfers allow for the personalized transmission of funds from individuals or entities to others while still maintaining the efficiencies associated with the fast and secure movement of money. As a customer of Gulf Coast Business Bank (GCBB) you can initiate a wire transfer quickly and the recipient can access the funds almost immediately. A wire transfer facilitates money transfers electronically across a network of banks or transfer agencies around the world.

Are Wire Transfers Safe?

A wire transfer is generally safe and secure, provided you know the recipient and obtained the required information for the wire transfer.  GCBB will only send a wire transfer if it was authorized by a GCBB customer.  Additionally, a legitimate financial institution will vet the identity of each entity involved in a transaction so that anonymous transfers are less likely to occur.

International wire transfers that originate in the United States are monitored by the Office of Foreign Assets Control, an agency of the U.S. Treasury. This agency makes sure the money being sent overseas is not being used to fund terrorist activities or for money laundering purposes. They are also tasked with preventing money from going to countries that are the subject of sanctions by the U.S. government.

What Information Do I Need to Send Wires?

To send a domestic wire, you will need:

  • The name and address of your recipient.
  • The name of your recipient’s bank.
  • The routing (ABA/RTN) number for your recipient’s bank. If you don’t know the routing number, we can look it up for you.
  • Your recipient’s account number.
  • You may also be asked to provide the purpose of the wire.

To send an international wire, you will also need:

  • The SWIFT/BIC for your recipient’s bank. A SWIFT code or Bank Identification Code (BIC) identifies the bank that will receive your wire transfer. If you don’t know this, contact your recipient’s bank.
  • Your recipient’s International Bank Account Number (IBAN). An IBAN identifies specific bank accounts at international banks. Depending on the country, we may ask you to provide an IBAN when you send an international wire transfer.

Online Wire Manager Services:

  • With GCBB Online Wire service, you can send money to both personal and business accounts in the U.S. and other countries.
  • Domestic and International Wire Transfers sent through Online Wires are typically sent the same business day if they are submitted by 2:00 pm Eastern standard time. Otherwise, they will be sent the next business day.
  • Create wire templates for recurring transactions. You can add a recipient once and we’ll save the details for future wires to the same recipient.
  • Easily access your online wires history through GCBB Internet Banking.
  • Increase both security and efficiency with online wire origination.
  • Save time and money by electronically initiating your own wire transfers.
  • Establish limits and approval levels with critical staff members.
  • Protect your account with multi-layered security from unauthorized access.
  • Utilize a secondary authorization process through dual control.

This service is offered to eligible commercial customers only and is subject to management’s approval.

For more information, contact us at 239-345-BANK or by email custserv@gcbbswfl.com.