Setting up a reverse wire with your bank authorizes Onlinecheckwriter to withdraw funds from your account via wire transfer.
The process will vary by each bank, so you should work with your bank directly to ensure that the reverse wire is set up correctly. Here’s the general process that you’ll need to go through:
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Contact Your Bank. Here Is Some Known Contacts Associated With Major Banks:
- Wells Fargo: Wire Transfer Team at (888) 384-8400 and choose option 0
- Contact your “Relationship Manager”
- First Republic Bank: Call your banker or the customer service line at (888) 408-0288
- City National Bank: Contact your “Relationship Manager”
- TD Bank: Call your local branch
- PNC Bank: You must visit a local branch in person
- Request the reverse wire form.
- Complete the form and return it to your bank.
- Follow up within 2-3 business days to ensure the form is being processed, and the authorization is underway without issue. If this isn’t set up correctly, we won’t be able to debit funds to pay your payees immediately.
The turnaround time for these requests varies by the bank but typically takes less than 2/3 business days to complete. You can usually refer to the form as a “Debit Authorization form” for reverse wire/drawdown requests. However, here are a few other known form names associated with major banks:
- Tri-party Agreement
- First Republic: Reverse Drawdown Wire Transfer Authorization and Agreement form
- City National: Drawdown Request Form