How do I wire funds from my Entrust Financial CU account?
Wire requests must be submitted by completing the Wire Transfer Request Form available in Online Banking. This form can be found by clicking on the "More" tab and selecting "Wire Request". Should this electronic option not be possible, please contact us regarding using either a mailed or faxed form. This electronic process is being used to ensure the accuracy of the original information and to hopefully streamline the processing.
Do I need a signature for wire requests within the United States?
Yes. Wires can be requested by phone, email, or in writing from the member or their Power of Attorney (POA) or Agent. Each request must contain the member's signature in order to match the signature on file. If the member is not making the request in person, an email will be sent using DocuSign, a signature solution, to the email address that Entrust has on file, requiring the necessary information for the wire and their signature. If the member is not making the request in person and unable to receive email, we will fax the wire transfer request form to them, requiring their signature. If they are unable to receive email or faxes, they must contact Entrust for other options.
Do I need a signature for International wire requests?
Yes. Wires can be requested by phone, email, or in writing from the member or their POA or Agent. Each request must contain the member's signature in order to match the signature on file. If the member is not making the request in person, an email will be sent using DocuSign, a signature solution, to the email address that Entrust has on file, requiring the necessary information for the wire and their signature. If the member is not making the request in person and unable to receive email, we will fax the wire transfer request form to them, requiring their signature. An email confirmation will be sent after Entrust has received the request for an international wire transfer, requiring an additional signature using DocuSign. If they are unable to receive email or faxes, they must contact Entrust for other options.
What is the cutoff time for submitting an outgoing wire request?
In order for a wire to be processed the same day, Entrust Financial CU must have a completed wire form and confirmation callback by 11:00 am EST during normal business working days (excluding federal holidays).
How much does it cost to send a wire?
Wire fees vary by wire type. Please contact the credit union to obtain more information about wire fees.
Does Entrust Financial CU convert U.S. dollars into a foreign currency for wires?
A wire may be converted into a foreign currency. The conversion is done by a third-party wire service on behalf of Entrust Financial Credit Union. When submitting this type of wire you will need to specify the type of foreign currency that the wire is to be sent in (example: pounds).
Do I need to provide addresses for the financial institution where the wire is going or beneficiary of the wire?
Yes. For security purposes, we must have the address for the individual originating the wire, the beneficiary, and ALL financial institutions involved. The wire cannot be completed until all required addresses are provided to Entrust Financial CU.
What if I only have a city and state for the financial institution?
For security purposes, we must have street address, city and state for the financial institution in order to complete the wire.
Can we send additional information or corrected information after a wire has been sent?
Yes. If information in the previously sent wire requires corrections or additional information then Entrust Financial CU will need to amend the wire. Please contact the credit union for applicable fees.
How can I locate a wire that has not reached its final destination?
If the wire has not been received by its final destination then we can issue a Service Message to try and locate the wire. Please contact the credit union for applicable fees.
How can I get my funds back if the beneficiary never received the wire?
Please contact the credit union within 180 days of the date we advise you that funds would be made available to initiate a dispute.
What is a SWIFT Code?
A SWIFT Code is a bank identifier code approved by the International Organization for Standardization. Each foreign financial institution has a unique SWIFT Code. The SWIFT Code is required when initiating an international wire.
What is an IBAN, and who has one?
An IBAN is an International Bank Account Number. This is required for ALL wires going through European financial institutions. The IBAN consists of between 15 and 31 characters and begins with a 2 character alphabetical code that signifies the country that the bank is located in. You can obtain the IBAN directly from the European financial institution.
Do financial institutions with an IBAN still require a SWIFT Code?
Yes. For international wires going through European financial institutions both an IBAN and a SWIFT Code are required in order for the wire to be completed.
Where can I get additional information for IBAN requirements?
Please contact Entrust Financial CU for additional information.
How much room is available if I need to add a memo to my wire?
Space is limited to only 25 characters.
Do I need a signature for wire requests?
Yes. Wires can be requested by phone, in writing, by email, or through a POA or Agent, however, each request must contain the member's signature so it can be matched to the signature card on file. Wires requested in person may not require a signature if the members' identity can be verified by other means, such as a license.
If a wire is going to reject, how soon will I be notified?
An Entrust Financial CU representative will notify you as soon as we are made aware of the rejection. If the ABA, SWIFT Code, or IBAN is invalid, we will know the day the wire is submitted. For other issues such as an incorrect beneficiary financial institution, recipient name or recipient account number, it could be a few days or even weeks before Entrust Financial CU is notified.
How do I know that the ABA is correct?
Please contact the beneficiary financial institution to obtain the correct wiring instructions. Many financial institutions have special ABA numbers for wire purposes. Using the ABA number that appears on the bottom of their checks could cause the wire to reject.
Why am I getting a call back from Entrust Financial CU when I request an outgoing wire?
Most wire requests not done in person require an Entrust Financial CU Representative to call back the requesting member to confirm their identity and their request. This is a security measure put in place to protect you from fraudulent wire requests.
Can I allow someone else to approve or authorize my wire transfer requests?
Entrust Financial CU is pleased to provide a method for you to grant someone else authority to approve requested wires when we need to touch base and confirm requests. For more information about this Wire Transfer Agreement, please contact Entrust Financial CU or by requesting information with this form.