03 Sep 2014

New TrustWorks Release Coming September 2014

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Product:

New TrustWorks Release Coming September 2014

Enhanced Security and Streamlined Options

The BMS product team is excited to announce new enhancements available with the release of our newest version of TrustWorks later this month. In addition, new banking security protocols and features have been put in place to enhance the protection of your estate funds.

Release Highlights include:

  • New! Stop Check Wizard. This new feature allows you to verify if a check has cleared before stopping and re-issuing it. Once you know that the check has not cleared, you have two stop options: “Stop” and “Stop and Re-Issue”.

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  • New! W-9 Auto-sign and TIN Validation. If you already have a TIN when creating a new bank account, TrustWorks now has a checkbox option that allows you to auto-sign your W-9 at the time of account creation – saving you time and effort.

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  • New! Support for International Wire Transfers. In the past, TrustWorks was set up only for domestic wire transfers. Now,  in this new release, TrustWorks includes fields for international address formats, country code as well as domestic or international currency types. Just click on the ‘Intl. Wire Transfer’ button as you’re filling out your wire information to access the additional fields required for international wire transfers.

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Note: All amounts entered within TrustWorks must be in US dollars (USD). When you are ready to adjust your exchange rate, call the Banking Center to get the most current USD exchange rate.

Reminder: The Bank Address section must either be completely filled out with the receiving bank’s full address or must be left completely blank. Rabobank does not allow partial addresses to be entered.

  • Update! Rabobank fax number and email address on Outgoing Wire Transfer form has changed. When you are upgraded to the newest version of TrustWorks, you’ll notice that the fax number and email address where the form should be submitted has been updated (see sample form below). In order to reduce the chance of fraud, Rabobank must receive your wire request at the new fax number or email address. Per Rabobank’s security policies, any wire request forms sent to the old numbers will be automatically rejected and must be resubmitted to the new fax number or email address.

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Note: Please remember to update any pre-programmed quick dial settings on your fax machine(s) with the updated fax number for Rabobank.

  • New! Outgoing Wire Transfer Tax Payment Form. Should you need to send tax payments to the IRS by wire, Rabobank requires the use of this new form which may be accessed via the MyResources client portal. For ease of access to this form, a direct link has been provided from within your TrustWorks software – under Banking > Reports > Outgoing Wire Transfer Tax Payment in the left hand menu. If you need access to MyResources, please contact the BMS banking center to set up a username and password.

Upgrade Communications Coming Shortly

BMS will send you a notification closer to your upgrade date with details about when to log out of your TrustWorks system.

If you have any questions about the new TrustWorks release, please contact the BMS Support Center via email or call 800-634-7734 ext. 6.

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