How to send a wire

Sending wire transfer requests through the Abaca Online banking portal.

What is covered here?

  1. What is a Wire Transfer?
  2. How to send a Wire?
    1. Setting up your authentication provider 
    2. Signing the Wire Transfer Request
  3. How to Authenticate your account for Wire Transfers

What is a Wire Transfer

A Wire Transfer is the quickest way to send money directly from one bank account to another. This can be both domestically or internationally. Abaca Online Banking enterprise customers are able to quickly and securely send Wire Transfers to their Vendors directly within their online banking portal. 

You can send a domestic Wire Transfer up to $2 million. Individual user caps are set through wire agreements and banking resolutions. 

If you would like to send an international Wire Transfer, please contact your Account Specialist.


How to send a Wire Transfer

Wire Transfers are nearly the same process as sending a BillPay. The main difference is the level of authentication protecting both the Payor (you) and the Payee (Vendor).

  1. Login into your account on Abaca Online Banking
  2. Go to the Payments tab in the left hand menu and then click on the tab called: Wire Transfer Request
  3. Fill out the 4 required fields to make a successful payment:
    1. Vendor - Who would you like to pay?
      1. If you do not see the vendor, please add them to your vendor list here.
      2. Vendors with two asterisks (**) will need Wire Instructions added. Go to their Vendor record and update the “Wire Instructions” tab.
    2. Date - The date you would like the payment sent on
      1. It defaults to today but future dates can be selected. 
    3. Amount - How much you would like to send.
    4. Transaction memo - The description on the bank statement for what this payment is for. For example, you may choose to list your invoice number here.
  4. There is an optional field you can check:
    1. Include Invoice checkbox - You can upload a copy of your invoice. If you check this, you will be prompted to upload an attachment after you click: Submit Request. Locate the file on your computer and click the Open button on the file upload window.
  5. Click on: Submit Request

Setting up your authentication provider 

6.   If this is your first time sending a wire, you will need to link an authenticator app with your Abaca Online Banking account. Please see: How to Authenticate your account for Wires

7.  Once you have linked your authenticator app account, you will need to enter the revolving 6 digit code / token from your authenticator app. Please enter in the 6 digit code and click: Verify

Signing the Wire Transfer Request


8.   Once verified, a “Wire Transfer Request Form” will be automatically generated using the Vendor, Payment and your user profile’s information. To sign the required field, click the button: Next Req* in the top right corner. 

9.   Review the Agreement and click on field: Customer Signature with date to sign the document

 

10.   This signature pop-up will appear. You can insert your signature in one of 3 ways
    1. Draw it - You draw your signature with your mouse / finger.
    2. Type it - You type your signature and pick a font.
    3. Upload it - You can upload an image of your signature.

 

11.   For ease of use and clarity, we used  ‘b. Type it” for this article. Once you are satisfied with your signature, click the button: Insert

 

12.   You will then see an alert “You have completed all required fields. Please click ‘Continue’. To move forward, please click: Continue

 

13.   Review the agreement and any terms of service. To officially sign and submit the wire, click the button: I Agree

 

14.   You will be shown a confirmation that your Wire Transfer Request has been submitted. Click the button: Close to go back to the main screen.

 

15.   You have officially submitted a Wire! You will now see the transaction pop-up in the Payment history with one of two statuses: 
    1. Awaiting Approval - If there is another person on your account with Wire Access, that person will need to approve the Wire Request. 
    2. Awaiting Release - If you are the only user on your account with Wire Access and it is now pending Abaca’s compliance review.

 


How to Authenticate your account for Wire Transfers

Account security is Abaca’s top priority, especially around Wire Transfers. To ensure maximum security, users sending Wire Transfers online need to authenticate using an authentication provider. 

Before you have enabled an authenticator app, you will see this pop-up. 

 

We suggest and have provided instructions on using Authy. To see details from Authy on how to set up Authy, you can check out this link.

There are 2 key steps to get your authenticator app setup:

  1. How to download your Authenticator app (we recommend and have instructions for Authy)
  2. Link your Authenticator app with Abaca Online Banking

How to download your Authenticator app

We recommend and have instructions for Authy but any Authenticator app will work.

  1. After enrolling in Wire Transfers, go to the Payments tab in the left hand menu and then click on the tab called: Wire Transfer Request
  2. After you submit a payment, you will be presented with a request to authenticate. 
  3. Click the button: Get Authy

4.   You will be presented with 2 options to download Authy: Download or Send to my Device.

5.   Download - You will be sent to download the authy app on your current device 
    1. You will be presented with a variety of options to download - Google Play, Apple’s App Store or the desktop versions for macOS, Windows 32bit, Windows 64bit and Linux.

6.   Send to my Device - You will be sent a text link to download
    1. On iPhone - If you click the link, it will take you to the App Store to download.
    2. On Android devices - If you click the link, it will take you to the Google Play store.

 

In Authy

  1. You will be prompted to select your country code and phone number.
  2. You will then be asked to provide your email address.
  3. Lastly, pick either a SMS or Phone call to verify your phone number. 
  4. Once verified, click Continue within the Abaca Online Banking portal.

 

You are now ready to link your authenticator app with your Abaca Online Banking Account.

How to link your authenticator app with your Abaca Online Banking Account

  1. Go to the Payments tab in the left hand menu and then the tab called: Wire Transfer Request
  2. After you submit a payment, you will be presented with a request to authenticate. Re-enter your Abaca Online Banking password and click the button: Setup Authenticator

3.   Based on which device the Authenticator app was downloaded on,  you will do one of two things in your Authenticator app:
    1. If you are on mobile - Click on the “+ Add Account”. You will then either scan the QR code or you can enter the 32 digit code
    2. If you are on a desktop - Click on the “+” in the top right corner. You will then enter the 32 digit code presented on Abaca Online Banking.

4.   You will then be prompted to give this app a unique name in your Authy app. 

5.   The verification code is the rotating token within Authy. Enter that code into your Abaca Online Banking portal and click the button: Verify Authenticator

 

6.   You have now successfully linked your Authentication app with your Abaca Online Banking Portal!

7. You can now securely send Wire Transfer using Abaca’s Online Banking portal.