Safety Tips for Wire Transfers

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To complete the wire transfer form, we will need the following information:

• Validation of your identity
• Name and physical address of person/business receiving the wire
• Account owner’s account number that will receive the wire
• Dollar amount of the wire
• Name and physical address of financial institution receiving the wire
• Routing number of financial institution
• Purpose of the wire (ex: home purchase)
• It is important that the person sending the wire, the account holder, assumes responsibility for providing correct wiring instructions. Members have fallen victim to scams when making purchases by sending money to the wrong unvalidated receiver account. To avoid this risk, the receiver’s personal and bank information must be validated by the sender and the sender should not rely on instructions not directly obtained by this party.

  *Direct Financial may ask for validation of the purpose and beneficiary information

To complete the foreign wire transfer form, we will need the following information:

• Validation of your identity
• Name and physical address of person/business receiving the wire
• Account owner’s account number that will receive the wire
• Amount of the wire
• Currency type (euros)
• Name and physical address of financial institution receiving the wire
• SWIFT code of financial institution
• Purpose of the wire (ex: home purchase)
• Outgoing wire fees apply
• The account holder assumes sole responsibility for providing correct wiring instructions.

* Direct Financial may ask for validation of the purpose and beneficiary information

• Wires can be sent Monday through Friday from 8:30 am to 2:00 pm by visiting a branch location (cut off time is subject to change without notice)
• Wires can be sent Monday through Friday from 8:00 am to 2:00 pm by calling the Contact Center at 800.966.8200. (cut off time is subject to change without notice)

Yes, Direct Financial can refuse the request for any of the following reasons:

• If there are insufficient available funds in the sender’s account.
• If the instructions are unclear or incomplete.
• If Direct Financial is unable to validate the sender’s identity.
• If instructions were received by Direct Financial by means of communication not authorized by Direct Financial.
• If Direct Financial is unable to reach sender for validation of information.

Or any other reason the request is unsatisfactory to Direct Financial.

• Wire transfers sent to US financial institutions are usually received and available for withdrawal the same business day however, Direct Financial cannot guarantee same-day availability.

Usually yes. Financial institutions do not usually place holds on funds that are wired unless there are clear and on time reports that the transfer was made fraudulently or to an unintended recipient.

Call our Contact Center at 800.966.8200, or visit any branch with your questions

• Wires can be initiated in person by visiting a branch location.
• Wires can be initiated through NEFCUOnline using the secure chat or messaging features.
• Wires can be initiated by calling Direct Financial directly at 800.966.8200.

Yes, you must be a member.

If the designated recipient of the funds will be receiving the funds at a location physically outside of any State, the wire will need to be sent as an international wire and all additional international wiring information will be needed.

• There is no “set” limit, however the funds must be validated before being wired. Cash or recent deposits are subject to review before being wired. This is because they cannot be returned. The credit union may refuse to wire funds for large amounts when they strictly rely on recent unverified deposits.
• For larger wires it is recommended that you visit your local branch to conduct the wire transfer in person.

To receive an incoming wire, provide the sender with our routing number (211691127) and your account number (not your member number)

Once “wired” funds leave your financial institution they are typically immediately available to the Recipient, not retrievable, and usually immediately withdrawn. These wire features (guaranteed and non-retrievable funds) have led members to be victimized by fraudsters. The fraudsters pretend to be legitimate Recipients and instruct Senders to use the wire transfer service to send funds for a purchase or other purpose. The fraudsters then provide phony or unintended recipient or account information. Members can also be exposed to risk when the funds wired from their account have not been collected, as from a recent deposit.

The Society for Worldwide Interbank Telecommunication (SWIFT) is a unique code that may be required for international wire transfers.

A wire transfer is an electronic transfer of money from one credit union or bank to another using a network, such as the Federal Reserve Wire Network or SWIFT.