Wire Transfers

Overview

Sending an Outgoing Wire

Receiving an Incoming Wire

Transfer money around the world with wire transfers.

If you are sending or receiving money within Canada or internationally, wire transfers can help. Once you have all the required information, come see us at any SASCU branch.

To trace a wire you have sent, visit or call us. There is a nominal fee for wire traces and they have to be done by the sending institution.

Features

Wire transfers offer the following:

  • speed and security
  • available in more than 100 international countries
  • offered in most cities
  • reasonable fees

Regulatory Requirements

Sending or receiving a wire transfer requires certain information to satisfy our internal compliance requirements. These include regulatory requirements under anti-money laundering and anti-terrorist financing laws and regulations applicable to all Canadian financial institutions.

Information required to complete a wire transfer will be shared with third parties to the extent necessary. This includes the recipient's bank, any intermediary financial institutions involved in the process, and, where required by law, to authorities in Canada, such as the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

To learn more about FINTRAC and regulatory requirements, visit www.fintrac.gc.ca

A wire transfer is a quick and secure way to send money to almost anywhere in the world.

What You Need to Know

This is what you will need to bring when you come see us to send your wire transfer:

  • The full name of who you are sending it to (check the spelling!)
  • the financial institution's full name 
  • the financial institution's full mailing address
  • the bank account number
  • the transit, SWIFT or BIC code (8 or 11 characters long). A SWIFT or BIC code is an international banking code that contains the bank and branch information of the beneficiary bank.
  • the IBAN number if sending to Europe

Note:

Some countries require additional information. For example:

  • Mexico = 18 digit CLABE account number
  • India/Malaysia = purpose of payment codes

Contact the branch if you are uncertain what other information may be required to complete your wire transfer.

If you are sending a wire in a currency that is foreign to the receiving country, an intermediary bank is also needed. You will need similar details about this financial institution:

  • the intermediary financial institution's full name
  • the intermediary financial institution's full mailing address
  • the transit, SWIFT or BIC code (8 or 11 characters long).

It is very important to have all these details correct to avoid additional fees, delays in service, and/or return of the transfer.  As the sender, you are responsible for ensuring all information is correct and complete.

Fees

Fees vary depending on where and in what currency the funds are being sent. See the Money Transfer Services of service charges for details.

Additional fees apply for incomplete information, wire traces, or return of funds.

We can help you with domestic or international wire transfers.

Contact your Branch for information.

What You Need to Know

If you are expecting to receive a wire transfer, provide the sender with the following:

  • your full name and/or your full business name
  • the financial institution's full name
  • the financial institution's full mailing address
  • the bank account number
  • the transit, SWIFT or BIC code (8 or 11 characters long). A SWIFT or BIC code is an international banking code that contains the bank and branch information of the beneficiary bank.
  • the currency the wire is being received in

Incoming Wire Transfer Forms

Credit Union members will also be able to receive incoming wires in the following currencies (contact Branch for routing instructions):

  • Australian Dollars
  • Swiss Francs
  • Mexican Pesos
  • Japanese Yen
  • Polish Zloty

Fees

See the Money Transfer Services of service charges for details.

Additional fees apply for incomplete information, wire traces, or return of funds. It is the sender's responsibility to ensure all information is correct. SASCU is not responsible for misdirected funds.

We can help you with domestic or international wire transfers.

Contact your Branch for information.