Wire Transfer Policy
Updated 06/12/2026
This policy template covers wire transfers requirements and will enable the bank identify if it is subject to the remittance transfer rules.
Rule: N/A
Toolkit: Wires/Funds Transfers Toolkit
Keywords: Wire Transfer, Remittance Transfers. Fedwire, Regulation E, Electronic Funds Transfer Act, Regulation J, BSA, AML, OFAC.
6/12/2026 – Note: On May 19, 2026, President Trump issued Executive Order 14406, Restoring Integrity to America’s Financial System. Subsequently, FinCEN, jointly with the FDIC and OCC, issued Joint Advisory FIN-2026-A002 addressing BSA/AML risks associated with non-work-authorized populations, and the CFPB issued its Statement on Ability to Repay and Immigration Status regarding the consideration of immigration status and repayment risk in underwriting decisions. As of this writing, additional guidance regarding related credit-risk management expectations remains pending.
8/7/2026 – Note: This tool does not address the federal remittance transfer excise tax enacted under the One Big Beautiful Bill Act. Banks offering consumer remittance transfers should determine whether the tax applies to their services and customize this product as appropriate. Consult qualified tax or financial professionals regarding tax administration requirements. For additional information, see the IRS Working Families Tax Cuts – Excise Tax on Certain Remittance Transfers (Section 70604) and Compliance Alliance’s Summary of Excise Tax on Remittance Transfers Proposed Rule.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.