Yes! You can use AI to fill out Outgoing Foreign Currency Wire Standing Instructions

This error occurs because people often confuse a notary public's stamp with a Medallion Signature Guarantee. The form explicitly states a notary is not acceptable. Submitting the form with a notary stamp will lead to immediate rejection, causing significant delays as you will need to get the correct guarantee and resubmit the entire form. To avoid this, visit a qualified financial institution like a bank or credit union that is part of a Medallion signature program.

Users often fail to provide the required currency-specific code in Section 2a, such as the BSB code for Australian Dollars (AUD) or the CLABE number for Mexican Pesos (MXN). This happens when they overlook the reference table in Section 2b. The absence or incorrect formatting of this critical detail will cause the wire transfer to be rejected by the processing system, halting the transaction. Always consult Section 2b and verify the required code with the receiving bank.

People often skip the Intermediary Bank section, especially when sending a currency that is not the local currency of the destination country (e.g., sending USD to a German bank). This can cause the wire to be returned, delayed, or converted to the local currency at an unfavorable exchange rate, resulting in financial loss. To prevent this, always confirm with the beneficiary's bank whether an intermediary bank is required for the specific currency and country combination.

Entering a beneficiary name that does not exactly match the legal name on the destination bank account is a frequent and critical error. Using nicknames, abbreviations, or omitting a middle name can trigger a mismatch during compliance checks by the receiving bank, leading to the rejection and return of funds. Always verify the beneficiary's full, official account name and enter it precisely as it appears on their bank statements.

A common data entry error is placing the International Bank Account Number (IBAN) in the 'Bank SWIFT Code' field or vice versa. A SWIFT code identifies the financial institution, while an IBAN identifies the specific individual account. This mistake will cause the wire to be misrouted or rejected, delaying payment and potentially incurring bank fees. Carefully copy these numbers into their designated fields as provided by the beneficiary.

Filers frequently provide an incomplete beneficiary address, often omitting the postal code, state/province, or even the country. International banking regulations require a full physical address for verification and compliance purposes. An incomplete address can cause the transaction to be flagged and delayed by the receiving bank. Ensure you obtain and enter the complete and accurate street address, city, state/province, postal code, and country.

It is a surprisingly common oversight to submit the form without a signature or date in Section 4. The form is a legal authorization, and without a valid signature and date, it is considered incomplete and cannot be processed. This simple mistake requires Fidelity to return the form, forcing you to restart the submission process. Always perform a final review of the signature and date fields before mailing the document.

W-8 certified customers (typically non-resident aliens) who are sending funds to a country different from their country of tax residence often neglect to complete Section 3. This section requires a reason for the transaction and is mandatory for compliance. Leaving it blank will halt the setup of the standing instructions until the information is provided. If this applies to you, provide a concise and clear reason to avoid processing delays.

The sender incorrectly assumes the beneficiary's account can accept the foreign currency being sent (e.g., sending Canadian Dollars to a standard US Dollar account). The form warns that it is the sender's responsibility to ensure the destination account can hold the currency. This mistake leads to the wire being rejected or forcibly converted by the receiving bank at a poor exchange rate. Before initiating, explicitly confirm with the beneficiary that their account is a multi-currency account enabled for the specific currency of the wire.

Since this form is a non-fillable PDF, users must print it and fill it out by hand, which often leads to illegible handwriting or simple typos in critical fields like account numbers and SWIFT codes. These manual errors are a primary cause of transaction failures and delays. To avoid this, use a tool like Instafill.ai, which can convert a flat PDF into a digitally fillable form, allowing you to type information clearly and helping to validate data formats to prevent mistakes before they happen.