Wire transfers are a common way to send money domestically in the U.S. and internationally. They are popular for international transfers because they are easy to exchange to a foreign currency. Wire transfers can be a good option if you need to send money fast since most domestic transfers are processed on the same day and most international transfers are processed in just a few days.

Wire transfers are also risky, because once sent, they are almost impossible to recall. So, if you decide to use a wire transfer for sending money, you will need to make sure you have all of the recipient’s information (including the receiving financial institution’s information) completely accurate, or the wrong person may get the funds.  Also, make sure you know the recipient. Wire transfers are commonly used for committing fraud. If you are the victim of fraud and you use a wire transfer to send the funds, you will most likely not get these funds back.

Some common uses for wire transfers include sending money to family members, paying invoices, and completing real estate transactions.

At Bellco, domestic outgoing wire transfers are $20 and international outgoing wire transfers are $40. However, wire transfers are free for Bellco members who have a Platinum Checking account.

What is a wire transfer?

A wire transfer is a way to electronically send funds to people or businesses without physical currency changing hands. Once the sender provides details for the transfer, such as the recipient’s name, bank information, account number and amount, the transaction is orchestrated through a credit union, bank or other money transfer provider.

How long does a wire transfer take?

Most wire transfer requests for transfers within the U.S. are processed on the same day. International wire transfer requests are typically processed within a few days, though the exact amount of time depends on which country you are sending to.

How to do a Bellco wire transfer

DOMESTIC WIRE TRANSFERS

If you’d like to send a domestic wire transfer, pick one of the following options to submit a wire request:

• Call 303-689-7800 or 1-800-BELLCO-1.
• Visit a Bellco branch during normal business hours, Monday through Friday.
• Submit a request through Online Banking.

All domestic wire requests must be submitted no later than 2:45 p.m. MT. Any wire requests submitted on Saturday, Sunday, a federal holiday, or after 2:45 p.m. MT on a weekday that is not a federal holiday, will be processed the next business day.

You’ll need to obtain the following information from the recipient you’re sending to:

If you are receiving an incoming domestic wire, you’ll need to provide the sender with the following information:

INTERNATIONAL WIRE TRANSFERS

To send an international wire, choose one of the following options to submit a wire request:

• Call 303-689-7800 or 1-800-BELLCO-1.
• Visit a Bellco branch during normal business hours, Monday through Friday.

All international wire requests must be submitted no later than 12:45 p.m. MT. Any wire requests submitted on Saturday, Sunday, a federal holiday, or after 12:45 p.m. MT on a weekday that is not a federal holiday, will be processed the next business day.

When sending wires internationally, it’s important to know if you would like the funds to arrive at the foreign financial institution in U.S. Dollars or the local currency of that country. The default will be the local currency of that country. If you would like the funds to arrive in U.S. Dollars, you must confirm that the receiving financial institution will accept funds in U.S. Dollars. Not all foreign financial institutions will accept funds in U.S. Dollars.  If the funds will be converted to the local currency as part of the wire transfer, you will need to take into account the gain or loss of funds based on the conversion factor. If you have any questions, you can ask the Bellco representative that is assisting you with the international wire transfer.

In addition, you will need to obtain the following information from the recipient you are sending to:

To receive an incoming international wire, you’ll need to provide the sender with the following information:

Bellco may require additional steps or may request additional information/documentation in order to send the wire. This is for your security and for Bellco’s security.

In addition to wire transfers, Bellco members have access to excellent rates on savings accounts, checking accounts, loans and more.

Not a Bellco member? Apply today.