Document background
The Wire Transfer Agreement serves as the primary contractual framework for electronic funds transfer services in the Canadian banking context. This document is essential when establishing a formal relationship between financial institutions and clients who require wire transfer capabilities, whether for personal or business purposes. It addresses critical aspects such as security procedures, authentication requirements, processing timeframes, and fee structures, while ensuring compliance with Canadian banking regulations, including the Bank Act and anti-money laundering legislation. The agreement is particularly important given the increasing volume of electronic transactions and the need for secure, regulated transfer mechanisms in both domestic and international contexts.
