Fedwire & Foreign Exchange

Global Funds Exchange (GFX)
GFX Foreign Exchange (GFX²)
Global Securities System (GSS)

Overview | Security | Benefits | GFXN | Frequently Asked Questions

GFX Benefits

Regulatory compliance: GFX includes auditing and data-screening processes to ensure compliance with government regulations, including the Bank Secrecy Act and rules set down by the Office of Foreign Asset Control (OFAC).

Reliability: BankServ’s production uptime record is upwards of 99 percent, ensuring outstanding availability and reliability for our ASP customers. Our two data centers are equipped with redundancy of all critical systems.

Automatic accounting: GFX communicates through a real-time interface to generate all necessary accounting entries, and can automatically post transactions to your host accounting software.

Online banking interfaces: BankServ has working relationships with many online banking software providers and has achieved compatibility with many interface formats and protocols.

Automated fee generation: Flexible fee rules can be set up to automatically charge your bank’s customers on a per-wire basis, based on a wide variety of criteria.

Automatic notification: When a wire transfer is completed, GFX can automatically notify your bank’s customer by e-mail, fax, phone, mail or by adding it to a bank statement.

Easy international transfers: GFX can move money internationally across the SWIFT network when set up in conjunction with BankServ’s TurboSWIFT software. For more information about BankServ’s SWIFT products, click here.

Foreign currency exchange: Payments are automatically and inexpensively converted into foreign currencies with our Global Funds Exchange foreign exchange (GFX²) feature.