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A wire, or wire transfer, is an electronic transfer of money across a network from one bank or credit union to another. With a wire, no physical money moves between bank locations, but people or entities are able to “wire” money to another person or entity as long as they have a bank account. Wires are typically used in most real estate transactions because funds are received more quickly (usually the same day), and there are no holds placed on the money once received.

Wire instructions are the directions you follow when sending money electronically to another person or entity. In the case of your home purchase, the funds are typically sent to your settlement agent. Wire instructions typically include: Bank Name and Address Bank ABA Number Bank Account Number Account Holder’s Name Reference Information (in real estate transactions, this is usually a file number). Call our office at 386-445-9550 or send an email to Info@TitleFL.com to request Agent's Choice Title Wiring Instructions.

There are steps you can take to help protect yourself. Wire fraud is real and home buyers and sellers are the biggest targets. For this reason, we have developed the WireSafe program to help educate customers on wire fraud. Be WireSafe by following these 4 steps every time: CALL, DON'T EMAIL Confirm all wiring instructions, including specific banking information, by phone before transferring funds. Use the phone number for your closing agent/escrow officer provided on their website or from a business card. Never rely on phone numbers in email communications. BE SUSPICIOUS It’s not common for title companies to change wiring instructions and payment information. CONFIRM EVERYTHING Ask your bank to confirm the account number and the name on the account before sending any wire. VERIFY IMMEDIATELY Call your closing agent/escrow officer to confirm the funds were received. Remember to inquire before you wire. Be WireSafe.

If you think you may have been the victim of wire fraud, here are some steps you must take. Time is of the essence – every second and minute counts. Contact banks, transaction parties, and law enforcement immediately upon discovery. Immediately call your bank. Ask them to issue a recall notice due to fraud for your wire. Ask them to reach out to the receiving bank’s fraud department to: - Notify them of the recall due to fraud. - Ask for a freeze on the account involved. - Report the crime to the FBI’s Internet Crime Complaint Center (IC3) https://bec.ic3.gov - Report the crime to Law Enforcement and Local Police/Sheriff. -FBI Field Office: https://www.fbi.gov/contact-us/field-offices - Secret Service: https://www.secretservice.gov/contact/field-offices