The fact is, only we know ourselves if we transferring funds from our bank or other financial accounts.

Funds Transfer require the use identities, i.e., the account numbers themselves, which are our personal or organization's accounts. The account numbers combined with the banks routing numbers are unique and indirectly they represent a form of identity issued and used by organizations to represent accounts for both them and us. It is assumed that their being just used officially confirms the transaction be completed. However, not knowing who is actually using them has allowed fraud.

Obtaining an approval for the “funds transfer” can prevent that fraud.

With those requirements completed, obtaining approval for its use is simple. The most difficult aspect of doing so is just asking for approvals before the transfer completes. The summary details of the transaction become basis of the question which will be asked, i.e., “Do you approve the transfer of $200,000 to this account” Clarity is important with an expectation of solely a “Yes” or “No” response for the transfer to proceed or not.

When seeking an action approval involving an bank account in a "Transfer of Funds" online here, there are nine fields that need to be completed on the form: 1) Sender 2) Sender Bank 3) Sender Routing Number 4) Sender Account Number 5) Check Number 6) Recipient Bank Name 7) Recipient Routing Number 8) Recipient Account Number 9) Transfer Amount.

The “Sender” field is for individual's name or the organization being represented name. The “Sender Bank” field is for the name of the bank with the account to be debited. The “Sender Routing Number” is for the nine-digit bank identification number of the bank sending the payment. The “Sender Account Number” field for is the bank account number being used to be debited. The “Recipient Bank” field is for the name of the bank being transfer to. The “Recipient Routing Number” is the bank identification number of the bank to receive the funds. The “Recipient Account Number” field is for that bank’s checking account number to receive the funds. The “Transfer Amount” field is for the currency total of the funds to be transferred.

Compete the form and select ”Send Approval Request ”. Each approval request, when sent for immediate response, is given 3 minutes to be responded to. If not responded to within that time limit, the default response will be recorded as ”No”. It will be present here as "Response not received within allocated time period".

Once the response is received, the reaction should proceed with the funds transfer or don't. If not responded to and still appropriate, retry.

It is hoped that in the future, the banks will integrate this type of action approval into their systems.