Initiating a recurring wire

Using Wires in Banno Online, you can initiate a domestic, recurring wire transfer from a wire template.

You must create a wire template before you can review and initiate a recurring wire transfer. If needed, review the steps for creating a wire template.
Note: Recurring wire options and functionality are currently only available to bank users.
  1. Navigate to Wires.
  2. Select Account to search for and select the account associated with the wire template you want to initiate.
  3. Select Templates.
  4. Select a wire template from the list on the Templates tab.
  5. Review the wire details to ensure they are correct, and edit details as needed.
  6. Select Review and initiate.
    The Initiate wire screen appears.
  7. From Frequency, select a reoccurring frequency for the wire transfer.
    • Weekly
    • Every two weeks
    • Twice a month
    • Monthly
    • Every three months
    • Every six months
    • Annually
    Note: For Frequency, there is a Once option. This option is for one-time wires. Do not use this option for a reoccurring wire.
    When you select a Frequency other than Once, the Schedule, Ends, and Save template fields appear.
  8. For Schedule, select a date for the recurring wire transfers to begin.
    Tip: Wires with Monthly or Twice a month frequencies can be set to initiate on the last processing day of the month by selecting the Last processing day check box.
  9. Select Confirm.
  10. Select Ends, and then select an option.
    • Never
    • Ends on date
  11. If you selected Ends on date, select a date, and then select Confirm.
  12. If needed, select the Save template check box.
    CAUTION:
    When you select a Frequency other than Once, you must select Save template to retain the template. Selecting Save template creates a new recurring wire and retains the original template on the Templates tab. If you do not save the wire as a template, the template becomes a recurring wire, and the wire no longer displays on the Templates tab.
  13. Select Initiate.
    Note: For wire amounts of $2.00 or more, you must complete high-risk authentication by confirming your Banno password to initiate the wire transfer.
  14. Enter your Banno password.
  15. Select Confirm password.
    A success screen appears to confirm that the wire has been initiated, and the process for transferring funds between financial institutions begins.
  16. Select Done.

You are redirected to the Active tab of the Wires dashboard. The recurring wire appears as a single wire in the list. The upcoming scheduled date and reoccurring frequency display next to the wire.

The reoccurring wire automatically changes from Active to Initiated to Processed to Active on the reoccurring frequency. Once the reoccurring wire reaches its end date, its status changes to Expired.

Parent topic: Wires