Who typically owns the wire process?

April 9, 2020


Q. Is there data on who typically owns the wire process (polls, benchmark, etc.)? Is it wholly owned by one department or shared between AP and Treasury? A. While we have no scientific benchmarking data available, we sent the question out to our practitioners who are on our IOFM Advisory Panel. See their responses below.  (Answered by the IOFM Advisory Panel) ----- For us – AP initiates the payments. Treasury releases the payments.  ----- Our AP department prepares the wires (and all payments).…

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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
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