Outgoing International Wire Transfers

The most convenient way to send an international wire transfer is through our eWires service within Digital Banking.  If you have never used our eWire service, it must be activated by calling BFSFCU at (202) 212-6400  or toll-free at 1-800-9-BFSFCU. If you have used eWire in the past, but not in the past 12 months, we will need to re-activate the service for you; please call us at the numbers noted above or visit a branch during normal business hours. Calling from overseas? See our list of international toll free numbers.

Wiring and routing instructions for international wires change frequently so it is highly recommended that you confirm the correct instructions with the beneficiary’s financial institution before submitting your request as this will help ensure timely receipt.

International wire transfer requests are subject to the policies and procedures of correspondent and intermediary banks and can take up to 10 business days to be received by the beneficiary. If you have previously sent a payment to the same beneficiary and routing requirements have changed, our eWires system will notify you that the beneficiary needs to be updated.

Please note that for your safety, BFSFCU has significant security procedures in place for wire transfer requests. Additional verification and documentation may be requested as needed; examples include the sender’s specific occupation and verification related to the source of funds and specific purpose provided. The information typically required for an international wire request is as follows:

SENDERS INFORMATION

• Your name
• Your Account Number from which the funds are to be withdrawn
• Amount in U.S. dollars or in the foreign currency (minimum amount of $100 U.S. Dollars or equivalent in any foreign currency)

BENEFICIARY'S INFORMATION

• Name as it appears on the account
• Full address of the beneficiary
• Bank name and the bank's street address of the bank holding the beneficiary's account
• Account number (must be in IBAN format for transfers to most countries in Europe and many countries in other parts of the world that accept Euros)
• A SWIFT code is required for all international wire transfers.
• A Bank code is required for the following countries (wires to additional countries may also require a bank code):
  • Transit Code (Canada)
  • Branch Code (Japan, Kenya, Hong Kong, Senegal, South Africa)
  • Sort Code (United Kingdom)
  • BSB Code (Australia, New Zealand, Fiji)
  • Clabe (Mexico)
  • RTGS IFSC Code (India)
• Specific Purpose -- required in order to complete your request.

FREQUENTLY ASKED QUESTIONS

• Q: How long does it take for funds from an outgoing international wire transfer to reach my bank outside the United States?
  

  International (cross-border) wires usually require 3-6 business days to process and land at the destination bank. However, there are several reasons why cross-border payments may be delayed. First, not all account balances can be updated outside the operating hours of local settlement systems. Delays can also arise if compliance checks need to be carried out, especially when a payment passes through different countries and jurisdictions.

  The existence of different data standards and formats between countries can hinder automation, while technological limitations can also prevent funds from being delivered as planned. Some systems rely on batch processing, lack the ability to monitor payments in real time and have low data processing capacity.

• Q: How is the exchange rate calculated for outgoing and incoming wire transfers?
  

  Outgoing wires: The exchange rate is based on currency type and amount, so the larger the wire is, the better the exchange rate for the member. There is also a currency conversion charge for non-USD wires published on our website here.

  Incoming wires:  Cross-border banks and corresponding banks may charge a conversion fee prior to the wire being handed off to our processor. The exchange rate and fees are set by the bank sending the wire. There is also a currency conversion charge for incoming non-USD wires published on our website here.