Wire Instructions
Contents
Instructions
For BTC Bank:
https://docs.google.com/document/d/1ZOBmWiZwJ90jEWyuVGZaCKp-eB0x3352B-zB3v1hRmk/edit
Admin
From Sandy at BTCBank -
We have only been charging a $5.00 fee for the incoming foreign wires, but do charge a $45.00 fee for sending one out. Checks on foreign banks have to be sent in for collection and will be deposited to your account after we receive payment for them. If they are in foreign funds an exchange rate will probably apply to them and we do charge a $2.50 fee on all foreign checks. It usually takes a 10 days to 2 weeks for us to receive the funds for a foreign check. Hope this helps.
Transfer authorization form:
How It Works
To explain: the receiving bank is the Midwest Independent Bank. That's who you need to wire the money to.
The Midwest Independent Bank then sends the money on to BTC Bank. So the wire transfer needs to add a note that the wire transfer goes on to BTC Bank. Then BTC Bank deposits the money in the Open Source Ecology (OSE) account. There is a chain of 3 parties involved. For OSE to receive the funds, information about the 3 parties needs to be included. If you do not include the second bank, and third, the OSE Account - they won't know who the ultimate beneficiary is. FBO means For Benefit Of. That is the ultimate recipient - OSE. Your bank should include a note to Midwest Independent Bank, to let them know the further instructions.
