410.208 Misdescription of intermediary bank or beneficiary’s bank.
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/wi/chapter-410/410-208-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
410.208 Misdescription of intermediary bank or beneficiary’s bank.
(a)This subsection applies to a payment order identifying an intermediary bank or the beneficiary’s bank only by an identifying number.
(am)The receiving bank may rely on the number as the proper identification of the intermediary bank or the beneficiary’s bank and need not determine whether the number identifies a bank.
(b)The sender is obliged to compensate the receiving bank for any loss and expenses incurred by the receiving bank as a result of its reliance on the number in executing or attempting to execute the order.