The Department of Internal Affairs

Te Tari Taiwhenua | Department of Internal Affairs

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Services › Anti-Money Laundering › Long description of flow chart about wire transfer provisions

This flow chart illustrates how the enhanced customer due diligence (CDD) wire transfer provisions apply to you.

Question one

Is this transfer of funds on behalf of a person?

(The person sending the funds may or may not be the same person as the beneficiary).

YES

See the next question.

NO

The wire transfer provisions do not apply to this transaction.


Question two

Is the transfer from one financial institution to another financial institution?

(This could be from one money remitter to another money remitter. Or, from a money remitter to a bank).

YES

See the next question.

NO

The wire transfer provisions do not apply to this transaction.


Question three

Are the transfer instructions sent by electronic means?

(The instructions could be sent by email, online messaging, internet, phone or digital means).

YES

See the next question.

NO

The wire transfer provisions do not apply to this transaction.


Question four

Are you the first money remitter that is involved in receiving the funds from the person that is sending them, together with an authority or instruction to transfer them to the beneficiary?

(The funds received could be in cash, cheque, or through an online transfer into a bank account that you are using for your remittance business. The funds received could be in New Zealand for an outbound money transfer. Or if the transfer is inbound to New Zealand, the funds received could be to a bank account that you hold in another country, or to the account of an associate who has agreed to assist you process the transaction. Ultimately, where you are the money remitter that is receiving funds and initiating and directing their transfer towards their intended beneficiary, this applies to you).

YES

You are the Ordering Institution.

NO

See the next question.


Question five

If you were not involved in receiving the funds initially, and are solely instructed by another remitter to make a payment to a beneficiary, this applies to you:

Are you paying the beneficiary out by cash or cheque?

YES

You are the Beneficiary Institution.

NO

You are an Intermediary Institution.


Return to the information on wire transfer provisions for informal or hawala money remitters.