Wire transfer is the fastest mode of receiving money in your Visions Federal Credit Union (Visions FCU) account. You can receive money from within USA (Domestic Wire Transfers) or from a foreign country (International wire transfer). The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.

International Wire Transfer to Visions FCU

International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in USA) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer. Small banks and credit unions generally don’t have this arrangement, so they use services of an intermediary bank (correspondent banks) which have this arrangement to realize the wire transfer. Intermediary banks are usually big multinational banks which have working arrangements with many top banks across the world.

Note: Banks in USA don’t use IBAN account number.

Incoming International Wire Transfer Instructions

Visions Federal Credit Union doesn’t have a swift code and so it might not be able to receive the transfers directly. However, you can still receive the wire funds in your account. The sender’s international financial institution will have a corresponding bank in the U.S. they can wire to, which will forward the funds to Visions Federal Credit Union via domestic transfer using routing number. The instructions will be something like this:

Beneficiary Information
Your Full Name:	The name of your account as it appears on your statement
Your Account Number:	Your complete bank account number (including leading zeros)
Your Address (including City, State & County):	Your complete address
Beneficiary Bank
Bank Name:	Visions Federal Credit Union
Routing Number:	221375378
Address (including City, State & County):	Visions Federal Credit Union 24 McKinley Avenue Endicott, NY 13760
Phone:	607-754-7900
Intermediary Bank Information – Sender’s bank will provide this information
Bank Name:	Correspondent/Intermediary Bank
Swift Code:	Swift code of correspondent/intermediary bank
Address:	Correspondent bank address

Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. We recommend services like TransferWise for getting best conversion rates and lower wire transfer fees.

Domestic Wire Transfer to Visions FCU

Domestic wire transfers are run through either the Fedwire system or the Clearing House Interbank Payments System (CHIPS). Wire transfers are different from ACH transfers. Wire transfers are real time transfers (receiver usually get the money, same day) and costs more than ACH transfer (which takes 2-4 days for transfer of money).

Incoming Domestic Wire Transfer Instructions

You can receive funds to your Visions Federal Credit Union account from any bank within USA using domestic wire transfer. You need to provide the following details to sender of the funds who will initiate the domestic wire transfer through his/her financial institution.

Bank Name:	Visions Federal Credit Union
Wire Transfer Routing Number:	221375378
Account Holder Name:	Your Name
Account Number:	Your Bank Account Number
Bank Address, with City & State:	Visions Federal Credit Union 24 McKinley Avenue Endicott, NY 13760 (regardless of where your account is located)

Wire Transfer Fees for Visions Federal Credit Union

International and Domestic Wire Transfer Fees for Visions Federal Credit Union are as follows:

International	Incoming	$15 for each transaction + Intermediary Bank Fees
	Outgoing	$60 (for USD) and $45 (for foreign currency) for each transaction + Intermediary Bank Fees
Domestic	Incoming	$15 for each transaction
	Outgoing	$20 for each transaction

Note: International Payments to and from Visions Federal Credit Union will go through an intermediary bank which also charges fees ($8 – $15) for its services in additional to fees mentioned above.

Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.

Sending Wire Transfer From Visions FCU

To transfer funds to an International/Domestic account from your Visions Federal Credit Union account, you need to fill Wire Transfer Request Form.

1. Complete all fields on this form as per Wire Transfer Instructions.
2. The completed and signed Wire Transfer form can be provided to any of Visions FCU branch.
3. Keep the Wire Transfer Disclosure for your records.
4. Wire transfer requests must be received and confirmed by cut-off time of Visions FCU.
5. There is a fee for sending a wire transfer.

Note: For international wires requested after Visions Federal Credit Union daily cut-off time, due to fluctuations in the foreign exchange rates, international wire transfers for amounts other than U.S. currency will be estimated and processed on the next business day at the foreign exchange rate valid at that time.

Wire Transfer Cut-off Time for Visions Federal Credit Union

1. Wire transfer daily cut-off time for International wire transfers is 2:30 p.m.
2. Requests received after cut-off time will be processed the next business day.