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Foreign Wire Request Form










WIRE INFORMATION:

I understand if correspondent bank information is unknown, the wire could be routed through Western Union and take up to 10 business days to be received.




(Specifiy type of foreign currency or U.S. Dollars)












(Required by receiving bank)












and/or

This request is subject to verification for security purposes.

I understand it is my responsibility to provide legible and accurate routing and payment instructions to the credit union. I have reviewed the above information and verified that it is correct. I understand the cutoff time is 3 p.m. EST for wires, provided that the above information is correct and verified. Incorrect wire instructions will result in the return of the wire transfer. If a wire is rejected, you will be charged our wire transfer fee and any rejection fees assessed by the Beneficiary and Intermediary institutions if applicable. I authorize Lafayette Federal Credit Union to wire the funds and deduct the fee from my account. Foreign currency will be based on current exchange rate at time funds are posted at receiving bank. Recipient may receive less due to fees charged by the recipient's bank and foreign taxes.

Important Information Regarding Your Foreign Wire Request:

Foreign currency will be based on current exchange rate at time funds are posted at receiving bank. Recipient may receive less due to fees charged by the recipient's bank and foreign taxes.

What to do if you want to cancel a remittance transfer:

You may cancel for a full refund within 30 minutes of payment, unless the funds have been
picked up or deposited. In order to cancel, you must contact us at 301-929-7990 or email
wires@lfcu.org within 30 minutes of payment or transfer.

When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including the amount and location where the funds were sent. We will refund your money within three (3) business days of your request to cancel a transfer as long as the funds have not already been picked up or deposited into a recipient’s account.

For questions or complaints about Lafayette Federal Credit Union contact:

National Credit Union Association
703-518-1140
www.MyCreditunion.gov

Consumer Financial Protection Bureau
855-411-2372
855-729-2372 (TTY/TDD)
www.consumerfinance.gov

If you think there has been an error or problem with your remittance transfer:

You have a right to dispute errors in your transaction. If you think there is an error, contact
us within 180 days at 301-929-7990 or www.lfcu.org. You can also contact us for a written
explanation of your rights.

When you do, please tell us:
1. Your name and address, or telephone number
2. The error or problem with the transfer, and why you believe it is an error or problem
3. The name of the person receiving the funds and his or her telephone number or address
4. The dollar amount of the transfer
5. The confirmation code
We will determine whether an error occurred within 90 days after you contact us and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was not error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation.

 

WIRE TRANSFER DISCLOSURE

If you send or receive a wire transfer, Fedwire may be used. Regulation J is the law covering all Fedwire transactions. This means that your rights and liabilities in a wire transfer involving Fedwire will be governed by Regulation J. Your wire transfer request will be processed based on information you provide to us. It is your responsibility to provide accurate routing and payment instructions to the credit union. The cut-off time for processing properly completed and verified wire transfer requests is 3:00 p.m. EST. Any request received after the cut-off time may not be processed until the next business day. For security purposes, this wire request may be verified by telephone confirmation with the authorizing member. Wire transfer fees are charged according to the current Rate and Fee Schedule.

SECURITY PROCEDURES: Lafayette Federal Credit Union may establish, from time to time, security procedures to verify the authenticity of a payment order. You will be notified of the security procedure, if any, to be used to verify payment orders issued by you or for which your account will be liable. You agree that the authenticity of payment orders may be verified using that security procedure unless you notify the credit union in writing that you do not agree to that security procedure before the payment order is executed by us. In that event, the credit union shall have no obligation to accept any payment order from you or other authorized parties on the account until you and that credit union agree in writing on an alternate security procedure.

BENEFICIARY IDENTIFICATION: If you give Lafayette Federal Credit Union a payment order which identifies the beneficiary (recipient of the funds) by both name and identifying or account number, payment may be made by the beneficiary's bank on the basis of the identifying or bank account number, even if the number identifies a person different than the named beneficiary. This means that you will be responsible to the credit union if the funds transfer is completed on the basis of the identification number you provided to the credit union.

BANK IDENTIFICATION: If you give Lafayette Federal Credit Union a payment order which identifies an intermediary or beneficiary's bank by both name and an identifying number, a receiving bank may rely on the number as the proper identification even if it identifies a different person than the named bank. This means that you will be responsible for any loss or expenses incurred by a receiving bank which executes or attempts to execute the payment order in reliance on the identifying number you provided.




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