M&T offers clients of all sizes and industries secure wire payment services to allow you to send high-value, time sensitive payments to parties in the U.S. and abroad. Incoming wire confirmation is made simple with multiple reporting options to fit the needs of any sized organization.
Depending on your business needs and volume of outgoing wires, you may set various management payment controls and choose one or a combination of the following wire initiation options:
Web InfoPLU$® Internet Wire Service
Clients can set up and manage wire users, payment approval levels and repetitive or scheduled wires without having to contact the bank. Web InfoPLU$ offers outgoing wire payments in US dollars or foreign currencies to domestic and international trading partners. Clients may also use Web InfoPLU$ to send federal tax payments, transfer funds between internal M&T accounts and initiate drawdown requests to consolidate funds into M&T accounts.
Secure-Wire Telephone Wire Service
Experienced M&T representatives are available to accept client wire instructions in U.S. dollars or foreign currencies to domestic or international beneficiaries. Repetitive wire instructions may be referenced to expedite recurring wire requests.
Batch Wires via Direct Transmission
Clients who utilize treasury or accounting software and regularly send higher volumes of wires can achieve greater efficiency by transmitting electronic files containing wire instructions in batches. M&T’s Batch Wire service allows you to send files for straight through processing or for review and approval before files are processed.
Automated Standing Transfers
Repetitive wire payments may be automated according to a schedule (daily, weekly, monthly) and sent in fixed or variable dollar amounts. Variable Automated Standing Transfers allow you to set a target balance in the account and funds exceeding the target balance are transferred according to your established schedule.
M&T also offers wire reporting in several formats and delivery methods. Wire reporting options include:
- Web InfoPLU$ Previous Day and Cash Position (Current Day) Reporting
Incoming and outgoing wire information is available at summary and detail levels. New incoming wire reporting including up to 9,000 characters of extended remittance (e.g. invoice or reason for payment) information available
- Wire E-mail Confirmations
Full wire incoming or outgoing details, including up to 9,000 characters of extended invoice or other payment details, are sent secured directly to your e-mail address
- File Delivery of Wire Confirmations
Automated delivery of wire information in standard BAI format
- Mail or Fax Delivery of Wire Confirmations
For clients who require a paper trail of wire activity
To find out more, please send us an e-mail, call 1-800-724-2240 to speak to one of our experienced Commercial Service Team Representatives, or contact your M&T Relationship Manager.