Wire Transfer Clerk Responsibilities

• Money transfers take place internationally and convert one currency into another. Medioimages/Photodisc/Photodisc/Getty Images

  The transfer of money or securities between two different locations requires a wire transfer clerk. This individual can work with people or organizations, creating secure and credible transactions that allow for an accessible exchange on both ends. Most banks retain such a specialist, as do some consumer or retail outlets that provide a money service like Western Union.

Authentication

• Since a wire transfer involves financial variables, it's important for a wire transfer clerk to have a record of who is sending and receiving the money. Often this involves a form where the names of the parties are written down, but it can also involve the use of bank account numbers instead. To authenticate this process even further, the clerk can assign an access code or password to the transaction.

Collection

• Most wire services or financial institutions charge for a wire transfer. One responsibility of the clerk is to determine what that fee is based on the sliding scale of how much money is being sent. This amount of money can be paid for separately or as a part of the money transfer, but it is up to the person performing the wire transfer to collect it.

Administration

• Keeping accurate records during and after transactions helps a wire transfer business or service to maintain integrity among its customers and the government. The Security and Exchange Commission often regulates and audits such information, creating a need for the clerk to note the details of transfers and any outstanding factors of the transaction.