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Wire Request Use Net24 Service | Disclosures | Money Transfer Request | Special Notices | Virtual Trading Desk Application | My Travel Wallet
 

Travelex Money Transfer Service (SECU Request Form) allows you to send cash (USD or Foreign Currency) within hours to a global network of cash pickup centers. Multiple payout options are available:

• Cash to cash
• Cash to bank account
• Home delivery (available in select locations)

Fees will vary depending on the amount sent, country of receipt, and exchange rate (see exchange rate discussion below). Call or Email our Member Services Representative for a quote.

OUTGOING WIRES
SECU will only accept and process wire transfer requests that have been sent via our secure Net24 Service. The only exception is if you (the SECU member) can come to our office and complete a wire transfer form in person, providing complete identity verification.

We will need the receiving bank and location with the corresponding Bank Code (ABA, SWIFT, IBAN (Europe only), etc), the beneficiary's name on the account, and the account number.

If you plan to do foreign exchange wires/drafts on a regular basis, you will want to apply for a personal account on our Virtual Trading Desk "VTD" (Application). The VTD offers wholesale online foreign currency exchange via the SECU partnership with Travelex. You are able to schedule one-time and recurring wires/drafts as well as monitor their progress over the Internet. In addition, you can view daily exchange rates and market trends, facilitating your business decisions.

Virtual Trading Desk Login Initiate and Track Your FX Wire

Fees

• Domestic outgoing wires are $15 each.
• International wires are $25 each.
  • It is often better to send foreign currency rather than exchange USD at the receiving institution, where there is no competition.
  • NEW! We now offer Bulk Rate Discount Days on the first and third Wednesdays of every month. Bulk Days allow you to benefit from other members who choose to do foreign wires in the same market. Since exchange rates improve with market volume on any given day, those with flexible arrangements can take advantage of "better than market" exchange when choosing our Bulk Days.
  • Include wires that pass through domestic correspondence banks before arriving at their foreign destination.

Exchange Rates vary throughout the world. An exchange rate offered within the United States might be very different from that offered abroad. Rates published on the World Wide Web are generally for high dollar volume traders. Making the currency exchange on the sending end offers more competitive choice, whereas sending USD to a foreign institution leaves you with their exchange rate. Please be aware that currencies with low exchange volume have high market volatility, such as in the following markets: Argentina, Bahamas, Bahrain, Bangladesh, Barbados, Bermuda, Cayman Island, Costa Rica, Czech Republic, Dominican Republic, Egypt, Ghana, Guatemala, Hungary, Iceland, Israel, Jamaica, Kenya, Korea, Morocco, Poland, Pakistan, Saudi Arabia, Tahiti, Trinidad & Tobago, United Arab Emirates, Venezuela and Zambia.

SECU will wire your money in the currency requested. Please understand that SECU can provide exchange rate information on the sending end prior to the actual wire submission, but only upon your request. Without specific instruction otherwise, SECU will act on the information you have supplied to our member services representative "MSR".

Our wire services provider, Travelex, provides fixed exchange rates for the day with amounts under $10,000 USD, otherwise exchange rates vary with market forces.

INCOMING WIRES
Fees No fees for incoming wires with the exception of Foreign Wires sent by the originating institution using "BEN" (beneficiary) instead of "OUR" (originating) structure. When sent in "BEN" mode, the SECU will charge $25 upon receipt to recoup our system costs.

Foreign Wires When originating a foreign currency wire from another financial institution, you should provide the sending institution with both our ABA and BIC number.

Cash Letters are foreign checks in foreign funds drawn on a bank in the same foreign country. For example, a British Pound check drawn on a bank in England. The exception: U.S. Dollar checks drawn on Canadian Banks can be processed as a cash letter item.

In contrast to other financial institutions, our FX broker, Travelex charges only a nominal fee to convert cash letter items and you receive immediate funding upon SECU?s receipt of the item, rather than waiting for the funds to clear through the foreign bank.

Alternatively, it may be more advantageous to exchange currency at the foreign institution where the rate can be immediately locked, and send the wire or draft (check) in US funds drawn on your foreign bank?s ?corresponding? bank (usually in New York, if available). The US dollar check once deposited often clears without additional fees. We recommend this option because it allows you complete control over the process, and eliminates the timing risk of currency exchange at the receiving institution.

Please provide the originating financial institution with exact Routing Instructions. Without specific account suffix advise, the funds will be placed into your checking account.

International Collections are foreign currency checks that are drawn on a bank that is not in the same country as the currency of issue. For example, a British Pound check drawn on a bank in France would be sent for collection and would not be paid out immediately. The time to collect varies between countries but typically takes 6 to 8 weeks. Collection items under $200 will not be processed.

For collections in US currency, a foreign collections fee will be assessed by both SECU and Travelex. The originating institution may also assess a fee, which is not within the control of the SECU.

FOREIGN CURRENCY DELIVERED TO YOUR HOME
My Travel Wallet offers foreign currency delivery to your home. Normal delivery is overnight. Please understand that My Travel Wallet provides retail exchange rates, whereas all wires use wholesale exchange rates.

Disclaimer: Please note that by selecting any of the 3rd party website links above, you are leaving the Schlumberger Employees Credit Union "SECU" website. SECU is not responsible for the content on these 3rd party websites or for any claims, lawsuits, or loss associated with using any of the above vendors products or services. Privacy and or security may differ from that of SECU's policy's. The links and information above is only listed for members convenience and ease of information access.

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