12 Jun 2013

Take Steps to Prevent Processing Delays from Rabobank

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Banking Tip:

Take Steps to Prevent Rejections from Rabobank

Rejected Checks and Deposits

Preventing Processing Delays

Check Deposits

You never know when your checks and deposits slips may get damaged or lost in transit. Don’t let this happen to you! In order to continue to maintain your documentation, the BMS Banking Center would like to remind you to always copy the front and back sides of any checks being deposited as Rabobank will need the full routing/account number and endorsement to properly process each check. Taking that extra step in the process will help you to quickly provide a scanned image that will be accepted by the payor’s bank.

Wire Forms

When submitting wire forms, please be aware of the following guidelines to prevent rejections by Rabobank:

  1. No Handwriting Allowed – Trying to read someone else’s writing leaves room for error; therefore, Rabobank requests no handwritten information on the wire forms – except for the Authorized Signature and Date.
  2. No Cross-Outs Allowed – In order to avoid unauthorized tampering, cross-outs are not allowed either.
  3. Complete Entire Receiving Bank Address or Leave Completely Blank – If only part of the receiving bank address is filled in, the wire will be rejected. Addresses must be complete including zip codes, branch information (if applicable), SWIFT/ABA codes or nothing at all…not even a period.

Now Available: New, Updated Bank Forms

A new Wire Transfer Tax Payment Order form is now available with easier-to-use, pre-populated IRS and Rabobank fields. This user-friendly form was developed to help to eliminate mistakes commonly made by users when using the general wire transfer form.

ACH payment instructions are now easier to provide to other parties. The new ACH form was designed especially for trustees; making it easier for you to communicate Rabobank’s ACH payment instructions. In the ACH Setup Instruction form, we created easy-to-identify fields as well as a “Note to Sender” section. This section details that the ABA number listed on the form is now being used by the Specialty Deposits division of Rabobank. This form can be used to provide clear, concise ACH payment instructions to other parties.

These new forms may be obtained by calling the BMS Banking Center directly. If you have any additional questions regarding Rejections, ACH & Tax Payment Order forms, contact  the BMS Banking Center at 800-634-7734, option 8.

Are the other bank forms clear to you? Let the BMS Banking Center know so that we may address that with Rabobank accordingly. Please post your comments below.

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