Members can use Nelson & District Credit Union's incoming and outgoing wire transfer service to transfer funds to accepting financial institutions in Canada, the US or overseas. An initial fee of $10.00 is charged by NDCU for all outgoing wire transfers, plus the costs incurred (+ min $7.00 CAD by intermeidary) from other FI's involved with the transaction in order to complete the member request. NDCU charges $10.00 for the receipt of any incoming wire transfers; in addition, there may be charges collected by the originating, intermediate or receiving financial institution.

Receiving a wire transfer

The individual or business sending the wire initially transfers the funds to a central financial institution.

For Canadian-dollar transfers, it is then sent directly to NDCU.

For US dollar and international transfers, it is routed through a number of intermediate institutions before being deposited at NDCU.

To receive a wire transfer to your account, you will need to provide detailed routing instructions, together with your full name, complete civic address (NO P.O. Box) and account information, to the individual or business sending the wire. Please contact your community branch for details on sending a wire transfer.

Please note: The wire transfer will not be accepted if the beneficiary name (account holder), complete civic address* and account information are not specified. *Address that includes a P.O Box will not be accepted.

Sending a Wire Transfer

To send a wire transfer to accepting financial institutions in Canada, the US or overseas, you must complete and sign a wire-transfer request form available from any Nelson & District Credit Union community branch. Alternatively, you may send the request via Member Direct Online Banking secure Contact Us form (you must log in to Member Direct with your Member number and access code).

You will need the following information:

• full name of the person to whom you are sending the wire (the beneficiary) 
• complete civic address (full legal address / NO P.O. Box) of both the receiver and sender for all dollar amounts
• branch location, including the bank name, street address, city and country
• account number of the beneficiary
• some international Financial Institutions require an International Bank Account Number (IBAN). The IBAN is alphanumeric and the length varies by country. The IBAN is provided by the recipient.
• some countries also require a reason for transfer and a beneficiary phone number
• depending upon the currency sent, some wires may require an intermediary financial institution (which is provided by the recipient)
• please contact your branch for required sending information for specific countries.

Fees vary depending on the value, currency and the destination country. Non-conforming money transfers will be returned, minus fees.

Domestic transfers initiated by 12:00 p.m. are generally credited on the same business day. Transfers to the US initiated by 12:00 p.m. are generally credited within one business day. International wire transfers initiated by 12:00 p.m. are generally credited within two to four business days.

Important information

Many money-wiring scams are initiated through email or by telephone. You may get requests to wire money in order to obtain a prize, participate in a foreign lottery or business opportunity, or to get a credit card or loan. Never respond to such offers.