Wire Transfer Services

Please contact our Treasury Management Support team at 855-696-2265 or tmsupport@midwestone.com and provide the SWIFT code for your international wire. We will provide a listing of any available US correspondent options for that SWIFT code.

The use of each of these fields can vary depending on how the wire is going to be sent (e.g. whether a US correspondent is being used). Refer to the Wire Transfer Guide or contact Treasury Management Support at 855-696-2265 or tmsupport@midwestone.com for guidance based on your specific wire transfer.

Yes, MidWestOne Bank may, at our discretion, contact you to verify the legitimacy of a wire transfer you submit prior to processing the transfer. Please note that MidWestOne Bank will NEVER ask for your login credentials used to access Online Cash Manager during these situations.

Users of the MidWestOne for Business mobile app may initiate both domestic and international wire transfers using existing templates created through Wire Manager. Additionally, companies with dual control enabled may approve pending transfers via the mobile app.

Business Email Compromise (often referred to as "BEC") is one of the most financially damaging online crimes that exploits the fact that so many of us rely on email to conduct business.

Although there are many variations to the types of BEC schemes, most cases involve criminals sending an email message that appears to come from a known source making a legitimate request, like in the examples below:

• An employee sends an email to request a change to their payroll Direct Deposit account information (e.g. a new account and/or routing number).
• A supplier or business partner whom you regularly do business with sends an email to request a change to the account information they have on file for vendor payments (e.g. a new account and/or routing number).

In some cases, malware or malicious software can infiltrate company networks to allow criminals to gain access to legitimate email threads about billing and invoices. Criminals can use this information to time requests or send messages, so accountants or financial officers don’t question payment requests

Perhaps the single best way to protect against Business Email Compromise is to verify payment and purchase requests in person if possible or by calling the person to make sure it is legitimate using a trusted phone number you have on file, not a phone number included within the email. You should verify any change in account number or payment procedures with the person making the request.

Below are other tips to help protect your business:

• Carefully examine the email address, URL, and spelling used in any correspondence. Scammers use slight differences to trick your eye and gain your trust.
• Be careful what you download. Never open an email attachment from someone you don't know and be wary of email attachments forwarded to you.
• Be especially cautious if the requestor is pressing you to act quickly.

If you recognize you have become the victim of a Business Email Compromise scheme, it’s very important that you act quickly – hours, and even minutes, can make the difference in potential fraud loss recovery efforts. Both ACH and Wire Transfers are typically irreversible, even if fraud is involved.

1. Contact MidWestOne Bank to explain what happened so that we can begin remediation and fraud recovery efforts. Our Fraud Services team may request additional information regarding the incident to assist in the investigation and your fraud recovery efforts.
2. Notify your organization’s Information Technology (“IT”) or Information Security (“IS”) teams, as it’s possible malware or other malicious software has infiltrated your network.
3. Change your email password and add multifactor authentication (MFA).
4. Notify your local FBI field office to report the crime. You can find a listing of local FBI field offices on the FBI’s website.
5. File a complaint using the FBI’s Internet Crime Complaint Center (“IC3”) portal.