---
title: "Executive Wire Verification Policy Template (Free SOP)"
description: "Free executive wire verification policy template: thresholds, urgent and confidential requests, independent verification, dual approval, cooling-off period, no voice-only authorization, evidence log and exceptions."
url: https://realpayee.com/templates/executive-wire-verification-policy
canonical: https://realpayee.com/templates/executive-wire-verification-policy
date_published: 2026-10-06
date_modified: 2026-10-06
updated: 2026-10-06
author: "RealPayee"
site: RealPayee
---

# Executive wire verification policy template

> This free **executive wire verification policy template** is an SOP for high-value and executive payment requests: **scope and thresholds** (including urgent or confidential requests), **independent verification** on a channel finance chooses, **no voice-only authorization**, **dual approval**, a **cooling-off period** for new bank details (commonly 24 to 72 hours), red flags, an **evidence log**, written exceptions and an executive commitment. Copy it or download it.

_Updated 2026-10-06 · 8 min read_

## Key takeaways

- Scope covers wires above a threshold **and** any executive request outside the normal workflow, whatever the amount.
- Verify on a channel **finance chooses**, using details that existed before the request. A call or video is never approval on its own.
- Two approvers with separate credentials; nobody can waive it by phone.
- Free and ungated: copy it or **download it as .md or .txt**.

## How to use this policy

1. Copy the policy below, or download it as Markdown or text.
2. Set the thresholds from your real payment data so the controls catch the riskiest wires without stopping routine ones.
3. Have the CFO approve it and every executive sign the commitment in section 9.
4. Align it with your bank's dual-control and callback services and with any verification conditions in your crime or cyber insurance policy.
5. Keep the evidence log for every wire in scope.

> [!NOTE]
> This template reflects common practice for finance teams. It is not legal, audit or insurance advice. Adapt it to your systems, your bank's services and any verification conditions in your insurance policy.

## Executive wire verification policy

**[Company Name]** · Owner: [Controller] · Approved by: [CFO] · Effective: [date] · Version: [1.0]

### 1. Purpose

This policy stops [Company Name] from sending wires because of fake requests that appear to come from executives, vendors or advisers. Every wire in scope is verified with the real requester through a channel we choose, approved by two people, and recorded.

### 2. Scope

- All outgoing wires and same-day payments of $[threshold, e.g. 10,000] or more.
- Any payment of any amount that is requested by or on behalf of an executive outside the normal approval workflow.
- Any request described as urgent, confidential, or related to an acquisition, legal matter, tax issue or regulator.
- Any payment to a new beneficiary, or to bank details changed in the last [30] days.
- All employees, contractors and outsourced providers with access to [bank portal], [ERP] or [AP platform].

### 3. Independent verification

1. The requester is verified through a channel finance chooses, using contact details that existed before the request: the internal directory number, the internal chat account or in person. Contact details in the request are never used.
2. **No voice-only authorization.** A phone call, voicemail or video call is never approval on its own, because voices and faces can be faked.
3. The requester states the amount, beneficiary name, bank, account and purpose. Finance does not read them out for a yes.
4. If the beneficiary is a vendor, its bank details are verified with the vendor's known contact under the [vendor bank-change policy].
5. Above $[higher threshold], the requester also confirms through [identity-bound approval: enrolled device / ID plus liveness] or a pre-agreed challenge question.

### 4. Dual approval

- Every wire in scope needs two approvers in [bank portal] using separate credentials and multi-factor sign-in.
- The person who receives or verifies the request cannot be an approver of the same wire.
- No executive can waive dual approval by phone, email, chat or video.

### 5. Cooling-off period

- Wires to a new beneficiary, or to bank details added or changed recently, are released no sooner than [24 to 72] hours after verification. A cooling-off period of 24 to 72 hours for new bank details is a common recommended practice; choose a value and write it here.
- During the cooling-off period, a notice goes to the beneficiary's previously known contact so the real party can object.
- The cooling-off period can be shortened only under section 8, never on verbal instruction.

### 6. Red flags requiring escalation

- Urgency, secrecy, or pressure to bypass this policy ("don't tell anyone", "I'm in a meeting, just send it").
- A new phone number, chat account or meeting link supplied for verification.
- Beneficiary name differs from the expected party, or a new bank or country.
- The executive is travelling, unreachable or asks finance not to call.
- Requests split into several payments just below the threshold.

### 7. Evidence log

| Field | What to record |
| --- | --- |
| Request | Date, time, channel, claimed requester, amount, beneficiary; copy attached |
| Verification channel | Number or account used and its source (directory, HR system, in person) |
| Details stated | Whether the requester stated amount, beneficiary and account matching the request |
| Identity-bound check | Method and result, where required |
| Approvers | Two names, dates and times; neither took the request |
| Cooling-off | Start and end time, notice sent to known contact (if new details) |
| Release | Date and time released, bank reference |
| Exceptions | Who approved, why, and when reported |

### 8. Exceptions

- Only [CFO and controller together] may approve an exception (for example, shortening the cooling-off period), in writing, with reasons, after independent verification is complete.
- Independent verification and dual approval are never waived.
- All exceptions are reported in the monthly control review.

### 9. Executive commitment

"I will never ask finance to skip this policy, keep a payment secret from the controller, or act on my voice or video alone. If a request looks or sounds like me but has not been verified, verify it first." [Signatures: CEO, CFO, other executives]

### 10. Review and training

- Monthly: the controller reviews the evidence log and all exceptions.
- Quarterly: review bank portal entitlements and remove access no longer needed; run a simulated executive request.
- Annually: train everyone in scope and review thresholds against payment data and insurance conditions.

## Frequently asked questions

### What threshold should trigger executive wire verification?

Pick one from your own payment distribution so most routine wires fall below it. Many teams start around $10,000 and also verify any executive request outside the normal workflow regardless of amount, because fake executive requests are often for unusual amounts.

### How long should a cooling-off period be for new bank details?

A common recommended practice is 24 to 72 hours between verifying new bank details and releasing the first wire, long enough for the real party to see a notice and object. Write the number into the policy.

### Why no voice-only authorization?

Voices and faces can be cloned. The FBI's IC3 has warned that criminals use generative AI to create audio of a person's voice to impersonate them and ask for money. Approval must come through a channel finance controls, plus a second approver.

### How is this different from the vendor bank-change policy?

The [vendor bank-change policy](https://realpayee.com/templates/vendor-bank-change-policy) covers changes to where vendors are paid. This policy covers high-value and executive payment requests. Most teams adopt both.

### Can I use this template for free?

Yes. Copy it, download it, adapt it and use it internally. No email is required.

## Sources

- [FBI IC3 PSA: Business Email Compromise: The $55 Billion Scam (Sep 11, 2024)](https://www.ic3.gov/PSA/2024/PSA240911)
- [FBI IC3 PSA: Criminals use generative artificial intelligence to facilitate financial fraud (Dec 3, 2024)](https://www.ic3.gov/PSA/2024/PSA241203)
- [J.P. Morgan: When callbacks go wrong (Feb 27, 2026)](https://www.jpmorgan.com/insights/cybersecurity/business-email-compromise/when-callbacks-go-wrong)

## Related

- [Wire fraud prevention: how to stop bank wire fraud](https://realpayee.com/wire-fraud-prevention) - Controls that prevent business wire fraud: out-of-band verification, payment thresholds, dual approval and audit trails. (markdown: https://realpayee.com/wire-fraud-prevention.md)
- [CEO fraud and deepfake executive calls: how finance teams stop them](https://realpayee.com/ceo-fraud) - How CEO fraud works - from spoofed emails to deepfake video calls - and the verification steps that stop fake payment requests. (markdown: https://realpayee.com/ceo-fraud.md)
- [Deepfake and Voice-Clone Verification Protocol for Finance Teams (Free Template)](https://realpayee.com/templates/deepfake-verification-protocol) - Free deepfake and voice-clone verification protocol for finance: safe words vs callbacks vs verifying the person, triggers, steps, escalation and an evidence log. Download as Markdown or text. (markdown: https://realpayee.com/templates/deepfake-verification-protocol.md)
- [Callback Verification Policy Template (Free SOP for Vendor Bank Changes)](https://realpayee.com/templates/vendor-bank-change-policy) - Free callback verification policy template for vendor bank account changes: a full SOP with RACI, independent contact rule, callback script, evidence log and checklist. Download as Markdown or text. (markdown: https://realpayee.com/templates/vendor-bank-change-policy.md)
- [Book a RealPayee demo](https://realpayee.com/demo) - Book a demo of RealPayee: see vendor bank-change and high-value wire verification on your NetSuite, QuickBooks or Xero payment flow. (markdown: https://realpayee.com/demo.md)

---

**Further reading**
- [Vendor verification guide](https://realpayee.com/vendor-verification.md)
- [Free vendor bank-change policy template](https://realpayee.com/templates/vendor-bank-change-policy.md)
- [Compare: callbacks vs bank-account validation vs RealPayee](https://realpayee.com/compare.md)
- [Pricing](https://realpayee.com/pricing.md)

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