Us Banking: Wachovia And Wells Fargo Customers Who Do Swift Transfers

[Jingthing]

Well, it was announced that Citibank was buying Wachovia, but now Wachovia has sold to Wells Fargo instead.

Anyway, so over time, Wachovia accounts will be converted to Wells Fargo customers, most probably.

Any Wells Fargo repetitive SWIFT wire customers here? I know you have to first go into the branch in the US to set this up, and then they send you a repetitive code so you can do future wires over the phone, without visiting a US branch.

Wachovia has a similar system, but the codes were only good for a few years.

So some questions:

Wachovia customers: did Wachovia automatically send new repetitive codes after expiration without having to visit a branch and/or effect a new repetitive wire agreement?

Wells Fargo customers: how many years are the repetitive codes good for? It sounds like you have to effect an actual initial SWIFT wire from Wells Fargo to get a repetitive code.

From Wells Fargo:

Wire Transfers

To send a wire transfer, please visit a Wells Fargo location. We cannot accept wire instructions through email or fax because your signature is required and must be witnessed by a representative of the bank.

After sending your initial wire, you can initiate other wires over the phone. To initiate wires by phone:

* Complete a Wire Agreement at the branch and order a personal identification number (PIN). Your PIN will arrive by mail in 10 to 14 business days. You will use this PIN to initiate wires over the phone.

* If you send wires to the same account number regularly, ask a representative at your branch for a Repetitive Wire Code. Your code number will arrive by mail in 10 to 14 business days. You will use this code to initiate wires over the phone. For each transfer, only the dollar amount of the wire may change.

Edited October 3, 2008 by Jingthing