Wire Transfer FAQ

1. What is a wire?
A wire is a member-requested transfer of funds from one financial institution to another electronically.

2. How do I wire funds into my Entrust Financial CU account?
Incoming Wire Instructions (No SWIFT Required)

Required Information
ABA Number 251082288
Beneficiary Bank Name Entrust Financial Credit Union
Beneficiary Bank Address 1801 Dabney Rd., Richmond, VA 23230
Beneficiary Account Number Insert Entrust Financial CU Account Number
Beneficiary Account Name Insert Entrust Financial CU Member Name

 Incoming Wire Instructions (SWIFT Code Required)

Swift Code Field Tag Required Information
57A SWIFT Address CHASUS33
  ABA Number 021000021
  Beneficiary Bank Name JPMorgan Chase
  Beneficiary Bank Address 1 Chase Manhattan Plz. New York, NY 10081
59 Beneficiary Account Number 006 9777 90
  Beneficiary Account Name Travelex Global Business Payments, Inc.
  REF 59420-US, FCC, Entrust Member Name, Entrust Member Number

3. How much does it cost to receive a wire?
It costs $5.00 per wire received with no SWIFT code and $23.00 per wire received with a SWIFT code.

4. What time are incoming wires processed?
Incoming wires are processed Monday through Friday by 3pm EST.

5. What happens to an incoming wire that is received, but is missing information such as an account number?
Entrust Financial CU will try to locate the proper recipient based on all the information provided. If we are unable to determine who the recipient is, the wire will be rejected as account not found.

6. How do I submit an outgoing wire?
First-time wire requests must be submitted by completing the Wire Transfer Request Form, either mailed or faxed. Recurring wires can be requested by phone, email, or fax after the original signed letter is on file. See below for more information about foreign currency wires.

7. 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's Member Service Department must have completed wire requests by 11:00 am EST during normal business working days (excluding federal holidays).

8. 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. 

9. 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. All wire requests must be submitted in US dollars. 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).

10. 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 Member Service Department.

11. 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.

12. 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. 

13. 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.

14. 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.

15. 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.

16. 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.

17. 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.

18. Where can I get additional information for IBAN requirements?
Please contact our Member Services Department for additional information.

19. How much room is available if I need to add a memo to my wire?
Space is limited to only 25 characters.

20. 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.

21. 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.

22. 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.

23. 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.

For more information about Wire Transfers, please contact Entrust Financial Credit Union's Member Service Department at 804-353-8012, 800-944-3622 or efcu@entrustfcu.com.