Wire Transfer Services
FHLB Des Moines simple, efficient and secure wire transfer service saves members valuable time and expense by:
Allowing same day credit on all incoming funds transfers, which are accepted until 5:00 PM (CT), except on holidays
Phone, fax or email notification of incoming wires
Offering interest for all collected funds at DDA/DT rates (special restrictions may apply)
The initiation of outgoing funds transfers until 4:30 PM (CT). After 4:30 PM, the initiation of outgoing funds is based on availability.
FHLB Des Moines complies with the Office of Foreign Asset regulation.
Foreign Wire Transfers
FHLB Des Moines will continue to process foreign wire transfers, in U.S. currency only, for the benefit of our members and their customers. However, we are unable to provide remittance detail information as required by Regulation E, International Consumer Remittance Rule. Please refer to the Consumer Financial Protection Bureau website www.consumerfinance.gov for information on requirements or read their bulletin, released on November 27. The CFPB expects to issue a proposal next month regarding foreign remittance transfers. Please contact our Member Financial Services Department at 800.544.3452, ext. 5415 or by email at firstname.lastname@example.org with questions or for more information.
Incoming Wire Transfers Should Be Wired To
Federal Home Loan Bank of Des Moines
Credit To: Member Institution′s Name
Acct #: Member Institution′s DDA/DT Number
FHLB Des Moines provides a comprehensive wire transfer service that allows the member to execute wire transfer transactions through the member′s Demand Deposit or Daily Time Account.
Repetitive and Non-Repetitive Wire Transfers
If your institution is interested in repetitive wire transfers, fax a completed copy of our Repetitive Wire Request Form to our Customer Service Team at 515.699.1245. Please note, that the dollar amount of a repetitive wire may change each time your institution initiates the item, but all other information must remain consistent. An individual with wire authority identified on your Authorized Personnel Form must sign the fax before submitting it to FHLB Des Moines.
Non-Repetitive wire transfers must be completed only once and should include all required information.
Notification and Verification
Each institution may elect to receive a telephone notification, a fax confirmation or an email notice of all incoming wire transfers to their account. If our Customer Service Team is unable to communicate with an authorized individual directly, FHLB Des Moines reserves the right to leave a voice message.
All non-repetitive outgoing wire transfers must be verified by an authorized individual within your institution prior to the release of funds by FHLB Des Moines. In the event there is not an authorized individual for your institution to verify outgoing funds, an individual can be assigned by completing our Authorized Personnel Form. If an individual is not assigned, the wire will be cancelled. A drawdown may also be requested to complete the transaction or a repetitive wire may be set up. Repetitive wires do not require verification, except when they are initially set up.
Future Dated Transfers/Cancellations
Future dated wire transfers can be postdated up to 10 business days in advance. If your institution decides to cancel the transaction before it is transmitted on the specified date, please contact our Customer Service Team immediately at 800.544.3452, ext. 5415.
Authorized Personnel Form
FHLB Des Moines requires that each member institution complete and submit a new Authorized Personnel Form for any authorized personnel and authoritative changes. It is each member institution’s responsibility to notify FHLB Des Moines of any changes. For a copy of the Bank′s Authorized Personnel Form, please log onto eAdvantage and click on “Authorized Personnel Form."
Toll Free: 800.544.3452, ext. 5415
Local: 515.281.1000, ext. 5415
Both incoming and outgoing wire transfers are available from 8:00 AM to 5:00 PM (CT) Monday through Friday.