Importance

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Abstract

Methods and systems for automatic verification and/or authorization of wire transfers by a telewire service provider are described. In one embodiment, a wire transfer agency database stores agency information including verified telephone numbers for each agency. When a wire transfer order is placed from a verified telephone number, automatic number identification transmitted with the telephone call is detected, the order is only allowed to be processed automatically if that telephone number in the database matches the calling agency, and the order receipt is successfully sent to that agency. Because the agency has been automatically associated with the order, the possibility of fraud and/or error is decreased, and the wire transfer can be automatically authorized after a delay time allowing the agency to issue changed instructions. Other embodiments are described and claimed.

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First Claim