I'm trying to comprehend how a single wire transfer affects numerous accounts. Is this a typical occurrence, and if so, what are the potential consequences?
What kind of verification processes do banks typically employ when producing a transaction that impacts multiple accounts - beyond just confirming the recipient's identity?
Can you elaborate on how Bmo handles transactions involving myriad accounts, thinking about potential reconciliation challenges or reporting requirements?
Are there any specific rules or regulations governing the transfer of funds across multiple accounts, particularly when dealing with business transactions?
I'm curious on how banks control disputes or inquiries related to a single wire transfer impacting myriad accounts - what's their typical dispute resolution process?